it's not a crises, it's a reorganization of global trade and global wealth. and it's not going to "resolve" in the sense of a return to previous levels of employment. this is the new reality.

akyuz is full of relevant observations, but he's confusing cause with effect. lower consumption is an effect of falling wages, which is itself a result of global trade agreements that seek to take advantage of the surplus of global workers. that's an irresolvable situation that will keep wages spiralling down for as long as the labour market is global (unless it collapses itself first). further, the ideas he's suggesting are highly problematic in the context of a society that needs to be focusing on changing the way it uses energy and produces waste.

worse, if you were to ask around, i think you'd get the feeling that there's a general resistance to this idea of centering the economy around frivolous production.

the other side of this isn't a return to the past. that cannot happen. rather, the current situation will entrench itself and worsen. this is the way the system was designed. rather, people need to adjust to the reality of global markets by moving into the future in a way that focuses more on local economies.

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=11508