With Europe in desperate need of some entertainment in advance of what looks set to be a sad holiday season, the UK and Britain are willing to oblige. In a spat that hit fever pitch after (the ECB's!) Christian Noyer said two days ago that it was Britain that should be downgraded, not France, we have just had the first two blank ICBMs lobbed at opposing territory. As the BBC's Hugh Pym reports, Deputy PM Nick Clegg, calling in from Rio (unclear if he was there battling the imminent invasion of unhacked US drones following the pseudo act of war on behalf of Brazil telling Chevron to go to hell) tells French PM "recent remarks from members of the French government about the UK economy were simply unacceptable." Clegg comments follow French Finance Minister Baroin saying "economic situation in Great Britain is very worrying...." And so the childishness escalates more, pushing Europe even further into crisis instead of someone doing something about fixing the only thing that can possibly help the insolvent world: starting preparations for a global restructuring. As for the idiotic pissing contest between the two countries with epic chips on their shoulders, the final appropriate outcome would be Moodys and S&P coming out and downgrading them both to junk, and even that would be optimistic.