Word: post-cold
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Perhaps this will be remembered, as many pundits are already proclaiming, as the end of the “post-Cold War era,” and the true beginning of the 21st century. Perhaps decades hence, our generation will look back wistfully on those gilded days before the September Massacre, just as those who survived the First World War nostalgically recalled the vanished era before Europe plunged into blood and darkness. Perhaps I will come to regard my own 2001 summer—spent, like the summers of so many Harvard students, amid the topless towers and teeming streets...
...case of the jitters. The key reason: this, says Robert Hormats, vice chairman of Goldman Sachs International, is "the first synchronized downturn since the 1980s," when high interest rates squeezed the world economy like an orange. During the last U.S. recession, 10 years ago, Europe was in its post-cold war euphoria, while the Asian economies were the stuff of miracle. By the time a financial crisis declawed the Asian tigers in 1997-98, the U.S. economy was in the middle of its technology boom...
Armed with the experience, the attitude and the requisite mandate from the president, Defense Secretary Donald Rumsfeld was going to be the guy who finally whipped the U.S. military into post-Cold War shape. But now, as his department scrambles to pull together a quadrennial review of Pentagon strategy and budgets before its Sept. 30 deadline, Rumsfeld is widely assumed to be losing the fight. The signs are grim: For a week, the New York Times and the Washington Post have peppered their front pages with stories on Rumsfeld?s fading luster; Slate suggests starting a "Rumsfeld Death Watch," predicting...
...George W. Bush?s drive to restructure the military into a quick, agile and cost-effective force appropriate for the post-Cold War world started promisingly enough. "As president, I will begin an immediate, comprehensive review of our military," Bush announced at The Citadel in South Carolina - a review that would cover "the structure of its forces, the state of its strategy, the priorities of its procurement." These would be radical changes, he said, pushing the military beyond "marginal improvements" to "skip a generation of technology...
...During the campaign - and into February - Bush promised to not only reinvigorate the military but rejigger it. The Pentagon would receive additional budgetary monies only after a total, "top-down" rethinking of the Pentagon's structure, strategies and assumptions about the security challenges of the post-Cold War world...