Charles Hugh Smith, "Currency Wars, Trade and the Consuming Crisis of Capitalism," Of Two Minds, 06 September 2011.
(I first saw an edited version this article at Zero Hedge. And don't overlook this explanation for the Swiss devaluation.)
Some other, related articles:
Charles Hugh Smith, "Marx, Labor's Dwindling Share of the Economy and the Crisis of Advanced Capitalism," Of Two Minds, 31 August 2011.
Robert Gordon, "The Wages of Destroying Labor Bargaining Power: Nearly 30% of Job Losses Due to Management Cutting Pie in Favor of Capital," Naked Capitalism, 28 August 2011.