Bernanke, Bush, and Hagel: Hot News

Does anyone else find this headline disturbing? “Bernanke says dollar to stay main reserve currency” (Bernanke faced “a barrage of questions from lawmakers about the threat posed by the weak dollar, which hit a fresh low against a basket of currencies on Thursday …”)

How does it feel, George? “In First Bush Veto Override, Senate Enacts Water Bill”

Steve Clemons hearts Chuck Hagel so much it makes me giggle, but he’s right to highlight Hagel’s powerful speech today on U.S. foreign policy: “Loose talk of World War III, intimidation, threats, bellicose speeches only heighten the dangers we face in the world. Without offering solutions and building international alliances we only strengthen the hand of those who prey upon and play to a confused, frightened and disorganized world. …” And there’s an update at the end about Iran:

At his blog Washington Note, Clemons features “quick tour de force of grim global realities and America’s eroding position from Senator Hagel’s comments before a session organized by the Center for Strategic and International Studies”:

Martial law declared in Pakistan; state of emergency in Georgia; Turkey threatens to invade Iraq; six members of the Afghan parliament along with scores of others killed in one of Afghanistan’s largest ever suicide attacks; an escalating drumbeat of U.S.-Iran tensions; seventy six U.S. Senators supported a resolution urging the President to designate an entire branch of Iran’s military as a terrorist organization. . .and the President announced unprecedented unilateral sanctions against Iran’s forces; and, finally, President Bush warned of World War III unless Iran acts to stop its efforts to develop a nuclear weapons capability.

These events are one frame of a broad confluence of events occurring in the world today. In the Middle East, Iraq is mired in a deep and dangerous civil war, with dim prospects for national political reconciliation. The Israeli-Palestinian conflict festers and worsens, and intra-Palestinian divisions present a pivotal obstacle, creating uncertain prospects for a U.S.-hosted peace conference. Syria is ostracized and insecure. Lebanon is paralyzed by a devastating political deadlock; Iran casts an unpredictable and ominous shadow over the region; and Egypt, Jordan and Saudi Arabia are trapped in this dangerous net.

Globally, our relations with Russia have sunk to a new post-Cold War low. U.S.-Turkey relations are in tatters over our inability to translate Turkey’s 21st Century Government and objectives into a relationship of mutual interests that has been the case since World War II. The U.S.-India civil nuclear assistance deal has been set back and is now in a state of uncertainty. Afghanistan continues to lose ground. . .including record-breaking opium production. . .and Al Qaeda has re-emerged stronger than at any time since it was ousted from Afghanistan six years ago. The border between Afghanistan and Pakistan represents the most dangerous zone in the world. . .and we have little control and limited influence over it. Nuclear armed India casts a wary eye on its nuclear armed neighbor to the west.

And, the price of oil edges close to $100 per barrel. Record-breaking energy prices and surging demand are reshaping the global geopolitical economic power landscape. . .from Russia, China and India. . .to Angola, Nigeria, Venezuela, Norway. . .and the United States. The world is witnessing a diffusion of power never seen before that will increasingly be the norm for the 21st century.

Events are overtaking governments as they swirl in wild gyrations around us. All too often, we mistakenly try to compartmentalize and isolate events and issues, and do not stop to consider how a series of events are interconnected and impact the world. No nation can affect these events acting alone. Unless nations work to shape, influence and guide the course of global events, events will shape themselves…and the world, leading to an ever more dangerous planet.

Continue Reading “Senator Hagel’s Speech Should be Retitled “Who in Washington Lost the World?!”"

UPDATE: I missed this earlier. Yesterday, Steve Clemons featured this:

The Case for a US-Iran “Grand Bargain”

Flynt Leverett previously served as Senior Director for Middle East Affairs on President George W. Bush’s National Security Council and is now the Director of the Geopolitics of Energy Initiative at the New America Foundation.

At 2 pm today, he will be offering this testimony, “All or Nothing: The Case for a US-Iranian ‘Grand Bargain’” at a hearing before the Subcommittee on National Security and Foreign Affairs of the House Committee on Government Oversight and Reform.

As usual, Leverett is mesmerizing in his sober, serious, analytical take on what needs to be done with Iran and how to correct our course. … READ ALL.