Robert Peston has been basking in the unusual distinction - for a journalist - of getting a pasting from Paul Krugman, and the somewhat less unusual distinction of criticism from Simon Wren Lewis. Simon has coined a phrase to describe the sub-discipline of macro practiced by journalists: 'mediamacro'. Part of this caricature is the idea that deficit stimulus is a bad thing, to be curtailed always, and always risks incurring the wrath of markets [aka the gendered 'Mr Market'].