NEO-LIBERALISM MEETS WITH NEO-CONSERVATISM

(h/t David Wessel)

I'm very skeptical of the claim that both American political parties are essentially identical but this little piece by Larry Summers is practically indistinguishable from something in the Weekly Standard.

Put American foreign policy back on the pitch
By Lawrence Summers
July 6, 2014 3:53 pm
FINANCIAL TIMES

While imprudence is always unwise, excessive caution in the name of prudence or expediency can have grave consequences. A nation will never have more power or influence than it has ambition to shape the global system. A sense of fatalism can become a self-fulfilling prophecy as adversaries are emboldened and allies move either to appease adversaries or to provide for their own security.

After Korea, Vietnam, Afghanistan & Iraq, it's clearly time for American fatalism.

Summers goes on to claim that "the danger that the US will abdicate from the responsibility it has undertaken for 70 years since the second world war for supporting a more integrated, increasingly rule based and faster growing global economy." Our best banksters almost destroyed the global economy.