"Good msing from Paul Mason of BBC on how we make things worse from here:
So then, in the absence of decisive policy action, you get a sequence that goes: crash (2008); stimulus (2009); failure of stimulus (2011); second crash (2011/12); deflation; involuntary collapse of globalisation. In that situation, which I profoundly hope does not happen, every government becomes like the Brüning administration in Germany after 1931, still trying to make the old policy work in the new world, increasingly resorting to decree..."at http://paul.kedrosky.com/archives/2011/10/the-1930s-and-worse.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+InfectiousGreed+%28Paul+Kedrosky%27s+Infectious+Greed%29