I think he's right, with the added bonuses of global warming and peak oil to contend with. Far less room for dawdling and error indeed.
I predict the forthcoming “market rescue” will produce the same results as last time: Wall Street may be temporarily quasi-stabilized, but to no lasting effect. This will be because, despite overclass myopia, the disease is deeper and wider than Wall Street. It has to do with the normal workings of what Noam Chomsky calls the unmentionable five-letter word: c-l-a-s-s. When the rich player has taken all the chips, and when another round of IOUs no longer holds credibility, poker games must end. Likewise, when the overclass has flogged and hogged its way through its last viable lending scheme, its own self-seeking behavior confronts it (and all of us) at last.
All in all, I think the evidence strongly suggests that the 2010s will be a lot like the 1930s all over again, but with way bigger stakes and far less room for dawdling and error.