Confidence, What Confidence?

'Confidence in the markets' is something we keep hearing but I really do wonder if this isn't all just based on thin air. Unless I'm missing something I'm not sure I've seen anything in the last few months that suggests that the economy is actually growing and that the debt is being paid off. The interest alone on the government debt is the size of a large government department on its own. No-one in their right mind borrows on one credit card to pay of the minimum balance on another one so why is it deemed logical and right for an entire country to do it?

Oh yes, and now we are starting to here about increased spending on capital projects (that old political chestnut) when we are just over a couple of years from the next general election. Surely the electorate isn't that dumb - no, please don't answer that question.