Globalization has considerably accelerated in recent years following the dizzying expansion of communications and transport and the equally stupefying transnational mergers of capital. We must not confuse globalization with "internationalism" though. We know that the human condition is universal, that we share similar passions, fears, needs and dreams, but this has nothing to do with the "rubbing out" of national borders as a result of unrestricted capital movements. One thing is the free movement of peoples, the other of money.
Inflation is really like drugging the baby universe with speed. The supercool union of the hitherto unfriendly gods was blessed by amphetamine, and this made the universe inflate rather than just expand. The early orgy of expansion in the universe comes to an abrupt end as soon as the supercooled particle stuff finally freezes.
If you look for instance at the automobile industry, part of the reason that you have the expansion of that sector, is precisely because we have gone out to talk to the automobile companies to explain government policy with regard to that sector, to talk to them about the MIDP and things like that. And indeed, it has been a very important part of attracting those investors to put in money in the South African economy and build motorcars in South Africa.
Ronald Reagan cut taxes to raise the deficit to stop liberals in future years from increasing spending. Obama will raise spending to raise the deficit to stop conservatives in future years from cutting taxes. As he funds every liberal dream - from alternative energy production to infrastructure renovation to more federal revenue sharing - he will force a massive expansion in the size of government for a decade to come.