With one of the biggest crisis's in at least the last 20-30 years, and with the US and much of the world likely to change in very significant ways over the next several years, it is tough to come up with something to post that is not comparatively trivial.

MTC, however, has a good post on Shisaku. This one concerns the earlier Japanese (and more recently, Chinese) policy of keeping their currencies artificially low vs the dollar, the building of huge currency reserves---often loaned back to the US---and how this has contributed to the current crisis and that it may effect a bigger change on Japan and Asia than many seem to realize.

I think that this is just the tip of the iceberg. Perhaps I am over reacting....