Word: checkbooks
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...Image Makeover I applaud Peter Beinart's suggestion to inject some economic realism into our foreign policy [Feb. 2]. An America that shows an understanding of its limitations and a fiscal pragmatism in its foreign policy will command far greater respect abroad than one that takes the dogmatic, open-checkbook approach of the Bush Administration. But why stop with Iraq and Afghanistan? Barack Obama should look at the rationale for maintaining forces in Germany, Japan and South Korea. Even among our allies, our presence on their soil makes little sense to many and is not appreciated. Our days...
...immediate threat, though, is economic. Venezuela relies on oil and gas for 93% of its export revenues. López says Chávez is rushing the term-limits question to the polls again before the drop in oil prices hammers the economy and shrinks his checkbook. Inflation is more than 30%, and the country faces shortages of staples such as milk. Chávez insists his government has stored away reserves to cushion the looming pain and recently pledged that "even if the price of oil drops to zero," the social largesse will keep flowing...
...applaud Peter Beinart's suggestion to inject some economic realism into our foreign policy [Feb. 2]. An America that demonstrates an understanding of its limitations and a fiscal pragmatism in its foreign policy will command far greater respect abroad than one that takes the dogmatic, open-checkbook approach of the Bush Administration. But why stop with Iraq and Afghanistan? Barack Obama should look at the rationale for maintaining forces in Germany, Japan and South Korea. Even among our allies, our presence on their soil makes little sense to many and is not appreciated. Our days as the world's policeman...
...with our adversaries, disinterested in the challenges that matter in people's lives and incapable of advancing our interests in the region." Yet he also suggested that "demagogues like Chávez have stepped into the vacuum. [Their] predictable yet perilous mix of anti-American rhetoric, authoritarian government and checkbook diplomacy offers the same false promise as the tried and failed ideologies of the past...
...that Citigroup, which is such a vast organization, had it all under control," says NYU's Smith. "The question is, Does this intervention restore confidence to a market where we're dealing with psychology and not analytics?" In this environment, it probably pays for the government to keep its checkbook handy...