It's tough now to be optimistic about policy, the economy or their combination. The eurozone is reeling in the face of defaults and potential defaults as well as lack of shared vision about managing and paying for future challenges. US stock markets entered August downbeat after the bitterly partisan deficit showdown. They then suffered major declines by the month's end, while the job-creation numbers released at the start of September suggest American economic malaise will linger. Emerging economies remain vibrant, even boisterous, but questions about inflation in Brazil and elsewhere are amplifying, debate over corruption has taken centre stage in India and pundits wonder how China can maintain torrid growth while its western export markets remain in the doldrums.