Word: weaknessness
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Terrorists know how to read weakness. So does Saddam Hussein. Six months ago, when Saddam blatantly violated the arms-inspection regimen he had agreed to after the Gulf War, Clinton let Kofi Annan broker a paper deal and called off the U.S. military buildup.
In the end, however, these scorned abstractions--credibility above all--matter. They are intangible, yes, but indispensable. Weakness breeds contempt. When you have no credibility, your enemies will seek you out anywhere in the world and blow you up. And what have you lost? Real blood, real lives.
WASHINGTON: These economic salad days have made Alan Greenspan a soldier in peacetime: The toughest part of his job is convincing the citizenry that no matter how good things look, the inflationary barbarians are never far from the gate. "The potential for accelerating inflation is probably greater than the risk...
"This is not motivated by any perceived weakness. It's really starting from a position of strength," he said.
China has the only currency in East Asia that has not fallen in value in the past year. And no one doubts that if the renminbi did slip, that would launch the rest of the region into a new round of devastating devaluations. And Hong Kong, which has pegged its...