One of the things that I find so extremely interesting about how this situation is being discussed in the bourgeois press is that "globalization" has disappeared as a descriptive term. All the pundits are trying to make the case that the crises are localized. What was only a few years ago the buzz-word on everybody's lips has now become extinct. My guess is that since bourgeois economics is basically "false science" or ideology, it becomes necessary to adjust one's rationalizations to meet current situations.
Louis Proyect (http://www.panix.com/~lnp3/marxism.html)