Current world cash crisis caused by globalization--notes rise of the right after 1930's depression

(Al Gore global carbon trading deals may be next). On the worldwide financial crisis: "This is the dramatic equivalent of the collapse of the Soviet Union:

• we now know that an era has ended," said Mr. (Eric) Hobsbawm, still lucid at 91.

"It is certainly greatest crisis of capitalism since the 1930s. As Marx and Schumpeter foresaw,

• globalization not only destroys heritage,
  

• but is incredibly unstable. It operates through a series of crises....

At some point, Europe's political class will face the awful truth that their own credit bubbles are just as bad – and perhaps worse – than the excesses of US sub-prime property. As that occurs,

• the shock will move by degrees from revulsion to political rage.

Professor Hobsbawm, who spent his youth watching Hitler's rise in Berlin, has a warning for those

• who think this will help the Left in any recognizable form.
  

• "In the 1930s, the net political effect of the Depression was to

• enormously strengthen the Right," he said.

America was the great exception,

• as it may prove to be again.
  

I (Hobsbawm) for one will take the enlightened "socialism" of Barack Obama any day over the

• Hegelian broth nearing the boil in Europe."
  

From Telegraph.co.UK, "Revenge of the Left Across the World"via the Drudge Report