Fareed Zakaria in Newsweek says that there is, and I suppose in once sense he is correct. He does a really good job of putting this 100 year storm in an overall framework, so it is a piece well worth reading. He has a lot of confidence that world governments will be able to solve this problem (by printing money, essentially). I’m not so sure because excess printing of money and credit is what got us here in the first place, as he himself notes.
Mr. Zakaria should read this piece in the Washington Times because it better explains what is happening and points out the futility of trying to salvage a crisis based on too much cheap credit by creating more cheap credit!