After WW2 the US led the creation of five international organizations to promote peace and prosperity. Now these have become incompetent and corrupt, the American people have noticed, and the reign of the international fat cat is over.
Irwin Stelzer dissects these institutions.
There is a mounting feeling that money spent to support the UN – its reputation already seriously dented by the oil-for-food scandal, its members devoted to embarrassing America and Israel while forgiving Arab nations all their sins – might not be in America’s long-term interests.
As America takes mounting casualties in Afghanistan, EU countries, with Britain the notable and honourable exception, refuse to provide significant support for an effort in which they agreed to participate.
The handful of German troops are not allowed out of their barracks after dark, and soldiers from other nations patrol the most peaceful regions of that violent country.
…Americans are increasingly aware that Europe is funding its generous welfare states by stinting on military spending, something they can do because they rely on American-funded Nato “assets” such as transport planes.
This is borne out by its response to the huge Russian cyberattack on NATO member Estonia – NATO sent one official (who took notes).
The admission to this institution of gangster-state Russia has destroyed what marginal value it had, and hence:
…Treasury Secretary Hank Paulson’s decision not to attend the recent meeting of G8 foreign ministers…
World Trade Organization
It looks to many Americans as if access to the vast US market has been freely granted, while France protects its farmers, China steals its intellectual property, Japan and China undervalue their currencies, and the EU subsidises Airbus to the detriment of Boeing and its workforce.
When Hilary Benn decided to join the German-led pack baying for Paul Wolfowitz’s blood, it must have seemed a good idea…
Benn & Co. prevailed after, as the Financial Times reported: “Washington was unable to rely on London, its closest European ally, for backing. Hilary Benn is known to have been opposed to Mr Wolfowitz staying in office.”
It is impossible to imagine that the International Development Secretary, who lusts after the deputy leadership and preferment from Gordon Brown, acted without his future patron’s approval.
The WSJ (which has lots of moles in the Bank) is feeding the US financial community regular tidbits on the Bank’s corruption – today it spotlights its New Zealand managing director, a shining example of the Mandelson Effect.
The Democrats are naturally isolationist, so if they win the presidency they’ll leave these outfits. And a Republican winner would acknowledge that 7 years of GOP blood spilt trying to reform them has had zero results, so they’ll pull the plug too.
Hence in 2010, there’ll be prime real estate for sale on the East River, a glut of premium office space in Washington and Zurich, and a large hole in the economy of Belgium.
And the G8 will be the D7 (Dwarf 7).