Life's A Picnic

Biden will rub shine off call for change

The choice of Biden for the VP slot shows how dramatically Barack Obama has been forced to recalibrate his campaign

Yes we can! turns to: oops, we may not

Obama suddenly looks vulnerable. The limelight is making him less likely to become president

Europe wins a gold for defeatism

Sarkozy's ‘peace in our time' deal is a reminder of what could happen if the EU wins more clout

Putin capitalises on US ambivalence

For Georgians, Putin's accusation that the US was assisting them in their struggle must have added cruel insult to mounting injury

Georgia gambit gives a sharp reminder

The mini-war in the Caucasus could end the slide which was threatening a dramatic redistribution of global wealth from oil

And lo, he ventured forth . . .

The anointed one's pilgrimage to the Holy Land is a miracle in action - and a blessing to all his followers

Hysteria alert: Fab One tour starts

Obama is no messiah but his appearance in Europe will inspire those disenchanted with the US

It’s worse than we feared

A new economic deterioration is under way and all signs are that Europe will suffer

Fannie and Freddie rescue is vital

The central problem is that these two institutions are desperately undercapitalised, a Government-led recapitalisation is essential

Iran and Israel's game of bluff

The warlike posturing would be more frightening if there were much likelihood of an Israeli attack

Obama is giving his party whiplash

The Democratic nominee's policy pivots are causing anguish among liberals. He is no fool

We're winning the War on Terror

Al-Qaeda and the Taleban are in retreat, the surge has worked in Iraq and Islamism is discredited

Which is worse, inflation or recession?

Central banks are confused. But despite the risk of job losses, stagnation is better than stagflation

Europe will miss Bush when he's gone

The US President is a useful bogeyman - but his successor's policies may not be much different

Obama's path is still treacherous

Barack Obama's journey through the primaries has left him limping in the election that really matters

Choice of running mate must end Clinton era

It will be an early test of Barack Obama's strength if he can resist the pressure to choose Hillary Clinton as his vice president

Fed must act fast if recession clouds lift

With yet more evidence of the US economy's resilience, the central bank must be ready for recession threat to disappear