Pepe Escobar, one of my favorite genuine journalists, in today's Asia Times On-Line:
Another pesky European, John Gray, professor of European Thought at the London School of Economics, author of crucial books like Straw Dogs and Black Mass, and one of Europe's most brilliant intellectuals - of course, Bush, McCain, neo-cons, they all hate intellectuals - says the financial crisis is the American equivalent to the fall of the Soviet Union. As he wrote on the London Observer,[Full article]Having created the conditions that produced history's biggest bubble, America's political leaders appear unable to grasp the magnitude of the dangers the country now faces. Mired in their rancorous culture wars and squabbling among themselves, they seem oblivious to the fact that American global leadership is fast ebbing away. A new world is coming into being almost unnoticed, where America is only one of several great powers, facing an uncertain future it can no longer shape.A new world, coming into being almost unnoticed. You betcha.