Even in the midst of drama in the markets, there is still room for banality in politics. I must confess I hadn't even realised that today was the day of Clegg's great speech until one of those ex-politics students with even more time on their hands than they had in the sixth form texted me with the message that "It's like stand up with Nick Clegg. Laugh a minute." Well, irony was always his strong point (the student, not Clegg). Clegg's forcedly casual speech, which had him striding around the stage note-less, Cameron style, going from one poor one-liner to another, was a marvel of embarrassment. He should be embarrassed at so nakedly emulating the man he is already accused of being a virtual identikit for. He should be embarrassed at spewing so many terrible would-be jokes that fell flat before an audience which could hardly recognise them. He should be embarrassed that the best he has to offer is a series of empty insults towards his opponents. And he should be embarrassed at the whole style of the speech.