A Faint Odour of Melons

There is an awful lot of rather fruitless discussion of finance going on these days. People hold public disputations on whether we have inflation (and you'd think we do if you've been forced to pay for your own food lately!) or deflation (certainly a fact if you've been trying to unload real estate!), or perhaps both of these at the same time? One thing is certain: a faint odour of one sort or another pervades the US financial system, and, as usual, we in the US are the last to know. Perhaps...