The link below is from one of Charles' posts, and it's quite extraordinary. I have yet to read something so comprehensive, yet easy to follow describing the current economic situation. I agree with a great deal of what is written here. What I don't agree with is the conclusions at the end, and the use of broad brush protectionism terminology. That is too frequently used in that manner, and does not address the equalization powers of fair trade and common sense. I will argue those points indefinitely. Taking into consideration the rest of the article, which is good as I have said, the concept of ploughing ahead as is regarding free trade is in itself the greatest counter argument to the overall points made in this article regarding failed globalization. My pointing out the 147% increase in ocean shipping rates substantiates my point of view, and that is also supported by the extraordinary amounts of fuel required, much of which comes from troubled regions, and concerns over global warming. Anywho, it's a long read but it's a very good one. Even CB could get into this as it discusses neoliberalism, marxism etc.
"Yet what if such a crisis were to be no longer confined to the peripheries of global capitalism but instead struck at its heartlands? Now we know the answer. The crisis has enveloped the whole world like an uncontrollable virus, spreading from the US and within a handful of months assuming global proportions, at the same time mutating with frightening speed from a financial crisis into a fully fledged economic crisis. In so doing, it has undermined the foundations on which the present era of globalisation has been built, namely scant regulation, the free movement of capital, a bloated financial sector and immense reward for greed, thereby bringing into question the survival of globalisation as we now know it."
And this, it becomes more current with every passing day;