spiegel.de: "The End of Arrogance" article

[takao]

http://www.spiegel.de/international/world/0,1518,581502,00.html

english spiegel.de article about the economic crisis and failed US leadership

quite lengthy (5 parts) and interesting

[Anuba]

Yeah, I've read a lot of similar articles in other European media lately. The basic idea being that everyone's sick of the volatility of the deregulated American market and constantly being affected by dumb decisions on Wall Street, a lot of investors are considering pulling out of the US and eyeing London instead. Some even go as far as saying that NY is no longer the financial capital of the world, which is probably true, or will become true in the near future. If the right-wingers bring home the '08 election, I think the global trend of detaching oneself from America both financially and politically will continue, particularly in the Western world (the rest were never on the same frequency to begin with). It's a sad development, considering that the US was everyone's best pal only 8 years ago.