The surprise success of the French economist Thomas Piketty’s income disparity blockbuster Capital in the 21st Century has forced battlelines to be drawn in the world of political economics.
After America’s ignominious defeat and hurried departure from Vietnam in 1973 — when the world’s richest and mightiest nation was humbled by the stolid determination of ill-equipped, ideologically inspired peasants — it was generally assumed the United States would not wage war again until the lessons of the Viet Cong victory were taken to heart.
The elaborate gavotte between the American and European economies continues.
While the Federal Reserve has begun to wind down its controversial quantitative easing (QE) program, the European Central Bank (ECB) the federal reserve of the eurozone, has announced it is considering a QE program of its own.
Crimea is permanently lost to Russia.
That is implicit in President Barack Obama’s remarks about where the Ukraine crisis heads next; the terms of the Paris talks between Secretary of State John Kerry and the Russian Foreign Minister Sergey Lavrov, and the West’s rejection of military action to hurl back the occupying Russian forces.