Liberia, ISIS, Ukraine, Hong Kong, a hospital fighting Ebola infections in Dallas, the year s stock-market gains obliterated, and I almost forgot just last week Secretary of State John Kerry warned that climate change could end life as we know it.

Then this week the clouds parted and the year s best news arrived: Led by Europe s sinking economies, global economic growth is falling, taking stocks and bonds with it, and the world s central bankers say they have run out of ideas on doing anything about it.

How this is good news requires explanation.

via online.wsj.com

DH is great.