Why the crash may grind on

Anthony Barnett (London, OK): Why didn't Cameron hold Brown responsible for Northern Rock, or for the government created Foot and Mouth virus? You can make a good case for both. If the answer is that Brown is seen as better in a crisis, then how big is the crisis? There is a fascinating article over on our mothership by Robert Wade.  He shows how the 'sub-prime' credit bubble is directly linked to the  ongoing US trade deficit and is not just some isolated cycle of exuberance. It makes you realise that something systemic and intractable may unfolding that will take a mighty effort to 'correct'. I strongly recommend it.