RE THIS TIME, IT REALLY IS DIFFERENT NOCERO NYT

As I have pointed out already here, and as these authors confirm apparently,

RE GLOBAL MELTDOWN NOT MAINLY A BANKING PHENOMENON

See also something like this on the deglobbalization blog:

http://deglobbalization.blogspot.com/2011/09/bank-tank-is-good-for-deglobbalization.html

it was not merely a debt bubble or some financial and investment bubble that has ended up causing global slow down and depression.


It is globalization itself. 


Few low sighted policy makers, or blinkered economists, even want to admit that the whole program has been a disaster for so long now.


Some white paper ideas sound good, some, like a global currency, would merely institutionalize, with a currency, an already bad, and misguided, past course of globalization.