> At root level, it smells a lot like November 1992
Fear not, all those Dem fantasies of a renascent Empire are just that - fantasies. Here's the scorecard:
1992: US still superpower, EU doesn't exist, Japan about to go post-bubble, China still a peasant economy, while 80% of the planet is being plundered by neoliberalism.
2008: US banking system nationalized and US military losing two Asian land wars, EU a superpower mobilizing 2 trillion EUR bailouts, Japan back to solvency, Latin America and Central Asia break their neoliberal chains, Russia returns to great power status, China an industrial superpower sitting on 1.7 trillion EUR of rocksolid liquidity.
The next act of the Big Shift: the semi-peripheries agree to keep purchasing US T-bills, in exchange for an officially multipolar world. Watch for the Nov 15 world financial conference for the details...
-- DRR