Tuesday, September 18, 2007

america's waning authority

when I see stories like this:

WASHINGTON, Sept 17 (Reuters) - The U.S. Department of Justice, which has been overseeing an antitrust settlement with Microsoft for five years, said on Monday it was "concerned" about a European court's decision to uphold an antitrust ruling against Microsoft (MSFT.O: Quote, Profile, Research).

it's merely one more example of how the US govt bombards the world with little messages saying "we don't approve of this.. or that." such urgings have fallen on deaf ears in places like caracas, literally placing our heads on the chopping block for chavez to disregard us, showing others it's possible and even ok to differ with the USA. now you have europe following decisions that don;t only threaten to limit the market shares of major companies like aapl. monday's decision was an outright rejection of american philosophy and authority. europe has chosen its own path for this issue and doesn't really care what we think.

it also makes me think of how US investors have shied away from US stocks ever since the dot-com bust in 2001... in 1-2 years as the subprime bomb goes off, what will overseas investors say about USD assets? I think the whole notion US assets are safe is going to deteriorate.

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