Burst the Bush Bubble: Before its too late...

[Copperred]

The Bubble of American Supremacy

A prominent financier argues that the heedless assertion of American power in the world resembles a financial bubble—and the moment of truth may be here

by George Soros

.....

<snip>

Exactly when the boom-bust process enters far-from-equilibrium territory can be established only in retrospect. During the self-reinforcing phase participants are under the spell of the prevailing bias. Events seem to confirm their beliefs, strengthening their misconceptions. This widens the gap and sets the stage for a moment of truth and an eventual reversal. When that reversal comes, it is liable to have devastating consequences. This course of events seems to have an inexorable quality, but a boom-bust process can be aborted at any stage, and the adverse effects can be reduced or avoided altogether. Few bubbles reach the extremes of the information-technology boom that ended in 2000. The sooner the process is aborted, the better.

The quest for American supremacy qualifies as a bubble. The dominant position the United States occupies in the world is the element of reality that is being distorted. The proposition that the United States will be better off if it uses its position to impose its values and interests everywhere is the misconception. It is exactly by not abusing its power that America attained its current position.

Where are we in this boom-bust process? The deteriorating situation in Iraq is either the moment of truth or a test that, if it is successfully overcome, will only reinforce the trend.

Whatever the justification for removing Saddam Hussein, there can be no doubt that we invaded Iraq on false pretenses. Wittingly or unwittingly, President Bush deceived the American public and Congress and rode roughshod over the opinions of our allies. The gap between the Administration's expectations and the actual state of affairs could not be wider. It is difficult to think of a recent military operation that has gone so wrong. Our soldiers have been forced to do police duty in combat gear, and they continue to be killed. We have put at risk not only our soldiers' lives but the combat effectiveness of our armed forces. Their morale is impaired, and we are no longer in a position to properly project our power. Yet there are more places than ever before where we might have legitimate need to project that power. North Korea is openly building nuclear weapons, and Iran is clandestinely doing so. The Taliban is regrouping in Afghanistan. The costs of occupation and the prospect of permanent war are weighing heavily on our economy, and we are failing to address many festering problems—domestic and global. If we ever needed proof that the dream of American supremacy is misconceived, the occupation of Iraq has provided it. If we fail to heed the evidence, we will have to pay a heavier price in the future

<snip>

http://www.theatlantic.com/issues/2003/12/soros.htm

[loudsue]

1. George Soros is my hero...

:bounce: He knows fascism when he sees it.

[BadGimp]

2. not LBN - but good

it's an editorial peice

and to the point of the article (which is a must read), he never even brings up OIL. Well at least not in the snip.