So what will $800 billion buy these days?  At the macro level, the Obama administration’s rescue plan will buy some new roads and bridges, 3.5 million new jobs and, hopefully, an economic recovery in the process.

Oil rose above $44 a barrel on Friday, after sinking 4 percent in the previous session, gaining support from a weaker dollar and a meeting of OPEC later this month.

Oil fell more than a dollar to below $44 on Thursday as a record drop in euro zone economic performance heightened expectations that fuel consumption would shrink further.

It certainly comes as no surprise to The Fleet Street Letter that Labour are placed third in the local elections. Less than 25% of the vote for Labour, with Cameron’s mob pushing up in the 40’s and the Lib Dem’s pipping them at the post for second place.