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Archive for January 3, 2012

Dangerously Unstable: The World in the Age of US Decline

January 3, 2012 6 comments

1913intel.com

Not so long ago, a high-ranking Chinese official, who obviously had concluded that America’s decline and China’s rise were both inevitable, noted in a burst of candor to a senior U.S. official: “But, please, let America not decline too quickly.” Although the inevitability of the Chinese leader’s expectation is still far from certain, he was right to be cautious when looking forward to America’s demise.

For if America falters, the world is unlikely to be dominated by a single preeminent successor — not even China. International uncertainty, increased tension among global competitors, and even outright chaos would be far more likely outcomes.

… But those dreaming today of America’s collapse would probably come to regret it. … Read more…

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War Imminent In Straits Of Hormuz? $200 A Barrel Oil?

January 3, 2012 1 comment

zerohedge.com

Submitted by John C.K. Daly of OilPrice.com

The pieces and policies for potential conflict in the Persian Gulf are seemingly drawing inexorably together.

Since 24 December the Iranian Navy has been holding its ten-day Velayat 90 naval exercises, covering an area in the Arabian Sea stretching from east of the Strait of Hormuz entrance to the Persian Gulf to the Gulf of Aden. The day the maneuvers opened Iranian Navy Commander Rear Admiral Habibollah Sayyari told a press conference that the exercises were intended to show “Iran’s military prowess and defense capabilities in international waters, convey a message of peace and friendship to regional countries, and test the newest military equipment.” The exercise is Iran’s first naval training drill since May 2010, when the country held Read more…