  The world economy  Mountains to climb  August was a nerve-
racking month for the world economy. September and October will
be no better  See article  Readers' comments    To climb
mountains needs collective leadership of world as large it is
otherwise some steps lead no where and ultimately bound to fall
more than today's standing of developed world along with some
down steps of developing world.   Regarding what I just said and
using the USA as an example, household wealth was over 54
trillion dollars in the USA in 2009, of which about 47 trillion
was owned by the richest 25%. Hypothetically, if the tax was
levied at 1% on the richest 25% it would generate around 470bn
per year. That would provide a potentially massive stimulus,
equivalent to nearly 1% of global GDP.   QE3, and the
Quantitative easing that has already been done is likely to
result in very substantial inflation down the track as it
greatly expands the money supply. It is in effect a politically
viable wealth tax.  I have a better solution. W