American Supremacy Is The Greatest Threat To

The People Currently In Charge Have Forgotten The First Principle Of An Open Society, Namely That We May Be Wrong And That There Has To Be Free Discussion. That It's Possible To Be Opposed To The Policies Without Being Unpatriotic.

Financial Markets Are Supposed To Swing Like A Pendulum: They May Fluctuate Wildly In Response To Exogenous Shocks, But Eventually They Are Supposed To Come To Rest At An Equilibrium Point And That Point Is Supposed To Be The Same Irrespective Of The Interim Fluctuations. Instead, As I Told Congress, Financial Markets Behaved More Like A Wrecking Ball, Swinging From Country To Country And Knocking Over The Weaker Ones. It Is Difficult To Escape The Conclusion That The International Financial System Itself Constituted The Main Ingredient In The Meltdown Process.

If The Bubbles Contain A Misconception, As They Always Do, Then It Can't Be Maintained Forever.

We Must Recognize That As The Dominant Power In The World We Have A Special Responsibility. In Addition To Protecting Our National Interests, We Must Take The Leadership In Protecting The Common Interests Of Humanity.

I Admire Chancellor Merkel For Her Leadership Qualities, But She Is Leading Europe In The Wrong Direction.