One similarity between the 70s and today is the weak American presidency. Obama is even weaker than Jimmy Carter, if that's possible. During Carter's reign, the Soviet Union invaded Afghanistan and many questioned whether it would be the Soviet Union that would win the Cold War. Concern about U.S. currency sent gold to $850 an ounce, an inflation adjusted level it has yet to reach again.
Obama's political failures are many, including the Copenhagen climate agreement. However, the place it is perhaps most evident is in the rhetoric. Consider this from the People's Bank of China Vice Governor Su Ning: "We always refuse to politicize the yuan exchange rate issue, and we never think that one country should ask another country for help in solving its own problems."
The Market Ticker - Cancelled - Do You Want The Good News Or The Bad?
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Israel "stopped the Iranian attack" so it is claimed.
*Except the US has taken credit for a huge number of the intercepts,
including the ballistic missil...
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