Like a depressing microcosm of the problems afflicting the world at large, Miami Art Basel was a shadow of its former wild and ostentatious self and has drawn to a close, leaving debt, hangovers, and photos of Pamela Anderson's ass in its wake. Despite elaborate prevarication from certain onlookers, the combination of thinner crowds, a subdued mood, and desperate discounts left no one in any doubt that the art bubble has truly burst.