... the US is among the countries that was most badly infected with the Anglo Disease, but at the same time is among the countries with the institutional framework that can put effective policy in place should it stumble upon an effective policy.

And then there's Peak Oil ... any main global region that is still in recession when several main global regions can start a recovery faces the risk of rising oil prices while it is still in recession.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.