The year is quite young, and yet it has already seen a multitude of disturbing events and trends — unrest in Cairo and North Africa; nuclearization in Iran; a growing anti-American alliance among Turkey, Hezbollah, Iran, and Syria; the expansionary designs of a newly unabashed China with attendant repercussions on Japan, South Korea, and Taiwan; calls for the end of the dollar as the global currency; the muscle flexing from an “I can’t believe my good luck” Russia; and the tottering of the European Union. I have no idea how most Americans react to any of the above, and I don’t think the administration has either.
We do know that President Obama wants to borrow another $1.6 trillion this year to ensure expansion of EU-like entitlements. One mystery is why the Chinese — 400 million of whom have never encountered Western-style medicine — apparently won’t mind lending us more of their hundreds of billions of dollars in surpluses to fund Obamacare. Another is why people should risk their environments in Africa, the Russian Arctic, and Asian coastal waters to provide petroleum for a thirsty planet, while we will not take much smaller risks to satisfy our own voracious oil appetite. The only common denominator is our desire to consume more than we produce.