I'M all for post-modern politics, but really this is too much.

David Cameron writing in The Guardian about the crisis of capitalism. I mean, it isn't right.

Following the latest rather tetchy G20 meeting of world leaders in Brisbane, the PM said: "Six years on from the financial crash that brought the world to its knees, the red warning signs are flashing on the dashboard."

The EU is teetering on recession, world trade is slumping, there's growing tension over Ukraine. He didn't mention the plummeting price of oil, but that's another flashing light on the recessionometer.

Then he took a pop at global capitalists: "We must make sure that big businesses pay their fair share of taxes." I'm sure they're shaking in their handmade shoes.

What next? Nicola Sturgeon writing in The Daily Telegraph about how she loves the Union? Tariq Ali giving investment tips in The Spectator?

However, I don't think Call Me Dave is going to appear on any Occupy demonstrations in future - not that there have been many recently. Like the Arab Spring, the 99 percenters seem to have moved on from tent cities and back to the internet where the weather is better.

Don't get me wrong: it's surely a good thing the Prime Minister has noticed firms like Google and Amazon are playing pass the parcel with their profits and contributing next to nothing in tax in Britain. And Mr Cameron is right that the economic recovery is really not what it's cracked up to be.

He might have added that countries like Britain are still burdened with unsustainable debt, which is actually growing in the midst of austerity. But that might be too close to home.

The reason Mr Cameron is making anxious noises is of course because there is a General Election looming. His pitch will be that while the rest of the world is going to hell in a handcart, Britain is quietly booming, thanks to prudent Conservative policies.

He says Britain has created a record number of new businesses and that the increase in employment in Britain, at 1.75 million, is higher than in the rest of the European Union put together. That's quite a statistic any way you look at it.

Much of Mr Cameron's article is directed at Europe for allowing its economies to lapse into a kind of perma-slump. And he's right. The European Central Bankers have been far too slow to realise the need for policies of expansion.

They have repeated the mistakes of the 1930s, passively waiting for the economy to rebalance itself out of recession, not realising - as Keynes did - that it is more likely to lapse into a no-growth equilibrium as demand fails and investment falls.

In simple language this means that people are out of work and can't buy stuff, so businesses stop making stuff. The tell-tale sign of this is deflation, prices falling. Which is a good thing when it is a result of competition - have you noticed how cheap computers are now? - but a bad thing when it is caused by people not having any money to spend.

Europe has got the bad kind of deflation. But the bad news for the Prime Minister is that it's happening here too. Only it's not so obvious.

Britain's jobs boom has been accompanied by a record fall in productivity and pay. Workers have lost about £1,600 a year. Millions are being paid too little to live on and have had to rely on benefits.

Meanwhile, businesses are not investing in new jobs because there's no point. Workers are cheap and there's not much demand in the shops.

In the Financial Times this week, Martin Wolf lamented the neglect of productivity, which is lagging way behind America, Germany and even France, which is supposed to be such a basket case. He says "growth-enhancing public and private investment has to be top priority".

You can't cut your way to growth. Britain only looks good because workers have been forced to accept low pay. But that is self-defeating and government has to get active.

The bright side? Well, the SNP are beginning to think losing the referendum might not have been such a bad thing after all.