As it turned out, the Earth is finite. The number of markets is limited. There are no any boundless areas for export expansion. Those countries, which had been global consumers, have no money to spend any more on things they don't actually need. Nobody wants to borrow scads for consumption to Greece, Italy or USA. During the crisis everybody strives to reduce import and maximizes export. It's obvious. Maybe Canada will trade with the U.S. forever. But if only the EU after collapse of euro-zone financial system comes to the conclusion that it would be better to restrict trade with the United States, USA will go bankrupt. The growth of the global financial sector have benn much more higher than global industrial production based on the ICT revolution. The size of financial sectors in Switzerland, Iceland & Ireland were recently closed to 900% of GDP. The situation in California is the same as Greek. External debt (% of GDP) for Ireland 1165%, United Kingdom - 400%, Belgium - 334%, Switzerland - 229%, Austria 200%, France 182%, Germany 142%, USA 100%. This collective madness will be ended by non-performing loans and downturn of the global economy by 30-40%.