Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Except for an unresolved dependence on imported oil, a current accounts deficit that they don't even try to remedy, a bad case of imperial overstretch and the fact that their political caste does not appear to have learned anything from the meltdown, sure.

Political dominance and military power will only get you so far, and when your economy is rotting away one outsourced factory at a time, military power merely delays the inevitable. Cash flows, incidentally, are largely irrelevant to this - when push comes to shove, heavy industry beats trade as a geopolitical power factor any day of the week.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat May 30th, 2009 at 06:27:01 AM EST
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