Day 1,514: white elephant, in a bind

Today policymakers are in a bind. Wisely, they do not want more white elephants or to reflate the property bubble.

Why China’s economy won’t be fixed

Artwork of the day 
Peasant Woman Binding Sheaves
Vincent Van Gogh
Date: 1885; Nunen / Nuenen, Netherlands
Style: Realism
Genre: sketch and study
Media: chalk, paper
Location: Van Gogh Museum, Amsterdam, Netherlands

Word of the day 
in a bind: in trouble
white elephant: something that is expensive, or that costs a lot of money to keep in good condition, but that has no useful purpose and is no longer wanted

Quote of the day
“Is this the part where you start tearing off strips of your shirt to bind my wounds?"
"If you wanted me to rip my clothes off, you should have just asked.”
― Cassandra Clare, City of Bones