Can Keynesian economics still work to revive a faltering economy?

I always enjoy Warren Bello's economic essays at Foreign Policy in Focus. In his latest post, Bellow asks whether the great liberal economist John Maynard Keynes is A Man for this Season?

Keynesian economics provides the rationale for President Obama's economic stimulus policies--the idea is that during times of recession, the government should do what it can to stimulate consumption. Bello thinks this strategy may not work in our day and age. For instance, Bello thinks that we need radical restructuring of the relationship between "the central capitalist economies and the global periphery." Furthermore, he argues that increasing consumption in the good old Keynesian way might have unintended consequences as we try to deal with a global climate crisis:

The challenge to economics at this point is raising the consumption levels of the global poor with minimal disruption of the environment, while radically cutting back on environmentally damaging consumption or overconsumption in the North. All the talk of replacing the bankrupt American consumer with a Chinese peasant engaged in American-style consumption as the engine of global demand is both foolish and irresponsible.