Munich?!

I know that I have been accused of foolishness in musing whether we are heading for a Third World War, but the news that Barack Obama's Vice President, the inept Joe Biden, is due to make a keynote foreign policy speech at an international conference in Munich fills me with a sense of dread. Neville Chamberlain in 1938? Is the world rapidly jumping from 1929/1933 type economic disaster to 1938 type geo-politic disaster rather quickly and if so how long before 1939 repeats itself?