PARIS – The Dow fell 50 points yesterday, halting an impressive bout of insanity.

Asian and European markets are down this morning, too. If the selling continues, the Dow could fall back below 17,000 points today.

With little real excitement in the markets, we turn to Britain's "pink paper" for entertainment.

An Unwitting Comedian

The Financial Times always brings us something to laugh at – usually in the editorial pages.

Chief economics commentator Martin Wolf is an unwitting comedian. He's always ready to give prime editorial space to the most subprime ideas that ever nested in a PhD dissertation.

From his pulpit at the FT, he is widely considered to be one of the most influential writers on economics in the world.

We hope that is an exaggeration; we fear it is not.

The absurd and disastrous policies central banks and governments have been pursuing are often front-run in some loopy editorial written by Wolf. So we pay attention – partly for amusement and partly for advance warning.

In today's paper, Mr. Wolf is at it again. Full of hope. Full of advice. Full of… Well, never mind.