Thus The Wall Street Journal today. “Germany’s central bank slashed its forecast for growth in Europe’s largest economy this year and next, and said the nation may sink into recession over the winter months,” elaborates the newspaper. A good move, no doubt. The threat of recession in Germany will surely focus the minds. And in time, too. The engine of Europe cannot pull the rest of the lumbering sub-continent forever. What is amazing about this piece of news is that it has affected the stockmarkets but slightly. The move has been expected, that is. Now all the investors are looking to America, the economic engine of the entire world. Tirelessly in search of miracles, the poor investors are up a blind alley. Engines can do only so much, no matter how powerful. The rest is up to all the carriages in the train. And all of them have powerful brakes.