Pax Americana and the age of Western dominance are fading. Washington can manage this decline, but first it must acknowledge its reality. History moves forward with a crushing force and does not wait for the unprepared.
Without economic recovery there is no political consensus; without political consensus there is no economic recovery. If Washington fails to overcome its current stalemate, a long period of monetary stagnation and moral decline will set in.
Europe’s problems go far beyond deflating currency and rising debt. It suffers from a lack of will, a crisis of confidence—and a serious identity problem. The once-great superpower has already fallen. Centuries of predominance slip away.
China must choose between kowtowing to domestic nationalism and submitting to a peaceful rise. Lately, nationalist belligerence has ruled the day. Washington is overreacting, encircling China. A latent rivalry ratchets up to dangerous levels.
Two lost wars. Eroding infrastructure. A crippled economy. The time when the United States could create and lead a political, economic and security order in virtually every part of the world is over. The cure? A new American strategy.
The gold standard is making a comeback! Tea partiers looking to push the government out of the monetary-policy-making business would have all of us carting bullion-laden trolleys to the grocery store.
A battle royal between the president and the supreme leader has engulfed Tehran. The result? Khamenei and his allies are methodically and ruthlessly establishing the planet’s most unabashed theocratic despotism.
Engulfed by bank failures and street protests not seen since the Great Depression, Europe appears ripe for a fascist renaissance. This century's scapegoat: Muslim immigrants. Is the Continent ripe for a fascist renaissance?
The IMF has become little more than an abettor of bad policymaking. To avoid the next meltdown, the IMF must become a global advocacy group. Diplospeak is out; punchy prose and clear policy recommendations are in.
America still retains its innovative edge over China and India. But as long as Washington continues to handpick winners and losers, our preeminence is in jeopardy.
