[Marxism] Arguing for a more adroit imperialism

Louis Proyect lnp3 at panix.com
Thu Mar 11 08:40:37 MST 2004

George Soros
Is the billionaire speculator the Democrats' most powerful weapon?
By Sebastian Mallaby
Posted Wednesday, March 10, 2004, at 2:17 PM PT

Way, way back, when Howard Dean had neither risen nor fallen, George 
Soros began to plot the sort of speculative bet that has made him a hero 
and a villain. Contemplating a popular president preparing an invasion 
of Iraq, Soros was shocked but unwilling to be awed: He believed that 
this show of American supremacy was a bubble waiting to be pricked and 
that the president's popularity could be made to pop with it. And so he 
did what only billionaires with attitude can do. He prepared to back his 
hunch with millions of dollars in speculative wagers, the sort that 
triggered the collapse of the British pound in 1992 and made Soros a 
demon to Asian leaders during that region's financial crisis.


What are the fundamentals in this case? Soros' answer is contained in 
The Bubble of American Supremacy, his eighth and latest book, which he 
began to write as American troops arrived in Iraq a year ago. It argues 
that Bush's foreign policy, far from being unassailable, is actually 
untenable; it confuses overwhelming military superiority with 
omnipotence. Like other Democrats before him, Soros points out that you 
can't remold the world with tanks alone. Harvard's Joseph Nye, for 
example, has compared American power to a three-level chess board. On 
the military level America has no rival; on the economic level it 
depends on partners to finance its twin deficits and buy its exports; 
and on the third level—the level of transnational threats like terrorism 
and AIDS and drugs—America can do little by itself. In this sense, 
American supremacy is illusory.

full: http://slate.msn.com/id/2096921/


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