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pigeon hole English
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News and current affairs
Its current account is sliding into an ever-deeper deficit hole.
Any government bailout that pays fair value for these assets will do nothing to repair that hole.
Labour, by contrast, argues that immediate spending cuts would wreck the recovery - that the hole in the economy, not the government budget deficit, is the problem needing most attention.
I learned this first-hand while attending this year's Jackson Hole Symposium in the remote wilderness of Wyoming, where, ironically, there are almost no homes to buy.
Many toxic substances are released into the environment, even some that are not toxic but nonetheless are highly damaging - for example, the chlorofluorocarbons that caused the Antarctic ozone hole (and which are now regulated).
If it had turned out that chlorine behaved chemically like bromine, the ozone hole would by then have been a global, year-round phenomenon, not just an event of the Antarctic spring.
But their efforts are only digging a bigger hole for the US economy, making recovery much more difficult.
In his recent speech to the annual, elite central-banking conference in Jackson Hole, Wyoming, the Bank of England's Andy Haldane made a forceful plea for a return to simplicity in banking regulation.
That is why the Six should stop digging a deeper hole.
At the annual meeting of central bankers in Jackson Hole, Wyoming, in August, IMF Managing Director Christine Lagarde suggested that the Fund would intervene to help emerging markets in crisis.
But tax hikes alone with not close Japan's fiscal black hole.
CAMBRIDGE - Inflation - its causes and its connection to monetary policy and financial crises - was the theme of this year's international conference of central bankers and academics in Jackson Hole, Wyoming.
Draghi made that very point in his speech at the annual gathering of central bankers in Jackson Hole, Wyoming, in late August, and several economists have suggested that it is time for the eurozone to engineer a temporary fiscal expansion.
In trying to repair communism, he punched a hole in it.
Indeed, advanced countries, including the US, have dug themselves into a deep hole.
In that case, countercyclical policies - both fiscal and monetary - could eventually be expected to plug the demand hole and get the economy going again, just as Keynesians argue.
Is Bangladesh headed into the black hole that consumed Afghanistan under the Taliban?
But financial markets were glued to the speech he gave in Jackson Hole, Wyoming on August 26. What they heard was a bit of a muddle.
In May, Hungarian reformers began tearing down the fence along their border with Austria - a hole in the Iron Curtain.
Their clothes and bedcovers were made of cotton, not wool, and an open hole served as the cell's lavatory.
So how do central banks dig their way out of this deep hole?
It is not yet a hole of the type one finds in Greece, where restoring fiscal balance and reviving economic growth are probably impossible without a restructuring of public debt.
So, despite Cameron being in a largely self-dug hole, the EU should show some flexibility in its negotiations with Britain over questions that do not concern the Union's basic principles.
ECB President Mario Draghi's message in his speech last month in Jackson Hole, Wyoming, as well as at his September press conference was a clear call for more fiscal support to boost effective demand.
The economy was still expanding in the late summer of 2007, when I spoke at the US Federal Reserve's annual Jackson Hole conference about serious risks to the economic outlook.