Ghastly moment, isn’t it, when at a supper party (worse, at editorial conference or in a meeting with clients) some drawling know-all asks ‘so what do you think about QE?’ Everyone at the table swivels in your direction. Your mental turbines stall, your eyeballs sweat. QE? Is that a conference centre? Cruise liner? A fashionable disease? Anyone who has been through this experience may find useful the following bull-point presentation.

This rainy weather has occasionally softened my rock-hard cynicism about climate change. I have bicycled around London for 25 years — and I usually get drenched about half a dozen times a year. This week, I have been soaked six times in as many days. For a moment, I nearly fell for the theory, suggested by some scientists, that the jet stream had slipped south, pushed downwards by warming polar temperatures.  But then the sun came out, and reason — and cynicism — returned.

When an earthquake hit Washington DC last August, it seemed a freakish event. But in retrospect the damage caused to national symbols such as the Washington Monument seems to have been a portent of the literal collapse of America. The monument will be enshrouded in scaffolding until at least 2014. Even if the cenotaph were in pristine condition, however, tourists might find it rather difficult to see. Washington’s subway system, formerly one of the glories of American public transport, is experiencing breakdowns and deadly derailments as its ageing tracks buckle.