President Obama has announced cuts in the US military budget that amounts to an admission that his country's power is in decline. We asked our International correspondent for his view; "The announcement is essentially a tacit admission that the United States can no longer afford to wage two wars simultaneously. As such it has all the significance of Britain's tacit admission that it couldn't afford a three-ocean naval strategy when it broke its "splendid isolation" and allied with Japan in 1911. We knew this was coming, especially after the banks decided to exploit the world economy to breaking point in order to feed their greed and selfishness. Make no mistake, the decline of the west is well advanced and we have only ourselves to blame. Neoliberal economics has undermined our power just as decisively as communism did in the Soviet Union, but there are few signs that our politicians have learned anything from it. The 21st century will be the century of China - handed to them on a plate by the sheer insane greed of the west's financial institutions."
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