Right on, Bill. The meltdown was the greedy finally eating themselves, not profits in the usual sense, as we know them. Bank accounts are now going to the big countries. Governments have become guarantors of financial stability. The small countries with banks bigger than their economies are in big trouble---Iceland going to IMF, the proudly independent Scandinavian countries considering joining the euro.
As for factories closing from globalization. labour has become globalized, too--- something left out of our embrace of globalization. With Europe now looking to the EU for salvation, maybe it's time to renegotiate NAFTA (sans Mexico which isn't ready) and really launch the continent, economically, environmentally with security into the 21st century. With American investment to reduce the environmental impact of our fabulous oil sands, the US could get all the oil etc.
