Changing of the Guard?

One of the real fascinations of the past several months has been the fundamental shift in macroeconomic thought. Not only have we dusted off Keynes, but there is serious talk of bank nationalization in the U.S., a topic that would have been laughable almost anywhere just a few months ago. My guess is that this is both a testament to the depth of the crisis we face (obviously) but also to the absurdity of the distance we pushed the old consensus.