Globalism Update

As I mentioned in an earlier post, globalism itself will come under fire. Here's the first stirrings, albeit from a source that is presumbably very pro-globalism:

http://www.foreignpolicy.com/story/cms.php?story_id=4592

Here's Roach's statement statement on globalism:

A second megaforce at work is globalization—the cross-border linkages that
during the past decade have increasingly taken the form of trade flows, capital
flows, information flows, and labor flows. The credit crisis itself is
essentially a powerful cross-product contagion—a virus that began with subprime
mortgages but then quickly spread to asset-backed commercial paper,
mortgage-backed and auction-rate securities, and other instruments throughout
the credit markets. But because financial engineers were so adept at
distributing the complex products they created, there is a critical cross-border
dimension to this crisis as well. Little wonder this is the worst financial
crisis in 75 years.

In a conversation with my wife, I posited that failure to recycle is not that big of a deal because eventually some economic event will transpire that incentivize raiding landfills for reusable materials. Such an event could be triggered if we see any notable combination of protectionism and scarcity wrought by war and strife.

Please note that the image appearing above is an illustration done by Nenad Jakesvic for Foreign Policy Magazine. Link: http://www.foreignpolicy.com/story/cms.php?story_id=4595