An open "politicization" of finance came out as a consequence of governments and central banks stepping in, in the sense that the dynamics of financial asset prices is now determined directly in the political sphere.
Just like central banking, economics wants to speak politically, but doesn't necessarily welcome a response. In Krugman, it sometimes comes across as condescension. At the Fed, it can appear more sinister.
It did not begin with the subprime disaster in 2007, nor the crash and burn of Lehman in 2008, nor are we able to blame any bubbles, be they dot.com or other. This Economic War began with the Asian Financial Crisis back in 1997.
Surging international food prices have become a major cause for concern. This is especially so in the Arab world, which is home to some of the largest food importers and where rising food prices have been one of the factors in recent political unrest.