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The monetary levers that bailed us out last time will not be available again.
Unlike previous pre-election periods, he has not felt obliged to pull fiscal or monetary levers to pump the economy.
Many hold power, twiddling the dials of tax and spending in finance ministries, or shifting the monetary levers at central banks.
Most importantly, perhaps, Cyprus is part of the eurozone and so does not have access to the monetary levers which the UK does.
Yet markets' belief that he can fuels the view that the boom can continue for ever.Central banks' monetary levers have always worked clumsily, and the evolving shape of the financial system has made their job harder still.
So Cameron and George Osborne must have been feeling a bit lonely, though they have kept their nerve amid scorn (over-confident scorn in my view) from Labour ministers about their dismissal of the fiscal option in favour of monetary levers.
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Its principal monetary lever is something called the federal funds rate, which is the rate that private banks charge one another for overnight loans.
This suggests that the Fed will have to push even harder on the monetary lever to revive growth.The Fed has another concern.
The monetary lever cannot be pulled much more furiously than it has been (the Bank of England slashed the base rate of interest by one and a half percentage points on November 6th and will probably cut more) but banks' unwillingness to lend has gummed up the transmission of lower rates to borrowers.
It could borrow in euros to ease a local credit squeeze.The problem for Latvia is the lack of monetary-policy levers.
The worry is that Brazil ends up stuck in a place where both monetary and fiscal levers prove incapable of pulling the country out of the mess it is in.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com