This report was written ten years ago but may as well have been written today – a $750 million dollar embassy in Baghdad with intelligence officers, last year missed the rise of Islamic State – there is still a lack of co-operation between agencies and one questions if counter terrorism, intelligence gathering & or analysis would not be best partially or fully outsourced to the private sector. If not being outsourced then an independent audit and review carried out. http://www.foia.cia.gov/document/0001229684-0
The Congress as with the Westminster system of government is going to have the occasional polarization over certain issues. Congress has been on a trajectory of polarization which is not going to reverse anytime soon and impedes the legislative process and undermines confidence. Polarization has been the norm in Congress throughout most of America’s history but what about some form of reform. Maybe a forum…”If the dominant metaphors for politics in America are the market and the arena, both holding vigorous competition central to how we think politicians and citizens should behave, perhaps we should find room for an alternative venue: the forum.” http://www.hks.harvard.edu/fs/dking/Extreme_Politics.pdf
What implications are there for domestic and foreign policy with this current system. Health Care & Social Security are two major challenges that have been around for more than ten years and so has the fiscal cliff and yet we keep seeing the same old battered can being kicked down the road. Maybe the House of Representatives could reassert itself somehow and be a conduit for law making…I am not an expert on US legislative process and it is outside of my area of expertise. 2017 is critical mass for the Dept. Social Security where money out will be more than money in – http://www.socialsecurity.gov/oact/solvency/THarkin_20130318.pdf
Economic Flaws – Systemic risks within the economy are real and not perceived based on and not limited to – algorithms, derivatives, collateral debt obligations, lack of a truly free market and more. The 401K is directly linked to the stock market – other countries have a broad spread in the superannuation portfolio which minimizes the risk of devaluation as occurred in circa 2008. The Federal Reserve Bank needs some form of review of its mandate/s. The head of the Fed from Allan Greenspan, Ben Bernanke and Janet Yellen have all failed to address underlying problems in monetary policy. The Federal Reserve Bank is a private company and the owners and board are an interesting read. Fiscal flaws are the responsibility of the government.
The establishment of Fannie May & Freedie Mac by government and regulated by government for the mortgage market (they basically dictated the interest rate for mortgages with around 50% of the marketplace in which they operated) and even as of 2005 Greenspan was waxing eloquently about how wonderful they were – “Critical to the success of this innovation has been the role of Fannie Mae and Freddie Mac in promoting mortgage securitization–the key to the development of secondary mortgage markets in the United States. Their efforts spawned the vast asset-backed securities market that, along with credit derivatives, has contributed to the transfer of credit risk from highly leveraged originators of credit–especially banks and thrifts–to less-leveraged insurance companies and pension and mutual funds, among other investors.” http://www.federalreserve.gov/boarddocs/speeches/2005/20050519/default.htm
The speech found in the link above, is a wonderful read and full of praise for two G.S.E.s that directly contributed to the G.F.C.
How can the marketplace be free with this type of activity occurring and who was at fault, legislators or regulators or both ? Impunity seems to run hand in hand with government along the yellow brick road. Now going back to the Federal Reserve Bank and specifically the NY Fed, why were Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC established – to take billions of dollars of toxic debt out of the marketplace – http://newyorkfed.org/markets/maidenlane.html#tabs-1
Look at the relationship with J.P. Morgan Chase and the loan where the NY Fed earns profits. Oh but this is all justifiable because it is a free and open market. Has anyone questioned greed, corruption and or dishonesty within the system and apology in advance for my skepticism here, but that would not be politically correct in our modern world and far to cynical. There is nothing wrong with democracy or a free marketplace capitalism…I believe that both of these have benefits and are better than the alternatives. The debt ceiling level and the process of dealing with it is flawed because the answer is not lifting it, time and time again and printing money…it does not address the structural reforms that are required to control it.
What is wrong with Operation Twist http://useconomy.about.com/od/Fed/g/Operation-Twist.htm
I refuse to be drawn into any Zionist debate or argument regarding the Federal Reserve Bank or any conspiracy theories about the same. Facts and figures can do the talking…but I personally believe that the underlying premise of a government monopoly on the money supply is detrimental to the economy and ultimately limits people’s freedom as it promotes the expansion and control of the state is wrong in that it is most flawed. I will cite Australia as an example with twenty two years of successive growth as a combination of the resources boom and well managed monetary and fiscal policy from the Australian Federal Reserve Bank & the government.
Foreign Policy Flaws – Lost opportunities to build and establish strong working relationships post Cold War. Underestimating or over estimating the capacity, strengths and weakness of either US capabilities or the country and culture of intervention/operation. Failure to meet objectives and counterproductive operations in various regional conflicts. Nicaragua, Vietnam, Iraq Gulf War, Iraq War, Afghanistan, Libya and others. With Nicaragua – The Republic of Nicaragua v. The United States of America – the International Court of Justice ruled that the U.S. had violated international law by supporting the Contras.
The reader can search for other countries and current flaws in foreign policy.
Constitutional Flaws – the ten questions asked by Professor Sanford Levinson from The School of Law at The University of Texas at Austin are worthy of reading and the very least, serious consideration…the two links at the end of the page are also worthy of perusal. http://www.utexas.edu/law/news/2006/100906_che.html
The writer is not anti-American. What American men and women do every single minute of every single day in the pursuit of freedom and liberty I am most appreciative of and applaud their courage and commitment to upholding the idea of democracy and global stability. These people are from a range of government and non-government groups and place their lives on the line. If the United States of America can lead by example, then it would be think globally acting locally first.
To conclude, this is one view that does not matter if it is correct or incorrect and I hope it stimulates thought regarding any real or perceived flaws in North America, Europe or the world. Globally we are facing serious challenges that require effective solutions to be found as a united world.The hegemonic behemoth that is struggling to retain global stability has become a basket case in international politics. If America can not or will not perform triage on itself and undertake radical surgery, the multi-polar world will rapidly correct this and place it in a hospice.
John Coffey, retired Foreign Affairs Officer at the US State Department points out about Strategic Vision: America and the Crisis of Global Power by Zbigniew Brzezinski: Brzezinski highlights greater significance to the nation’s domestic problems such as a crushing national debt; a financial system driven by self-destructive greed; widening inequality; decaying infrastructure; a citizenry ignorant of the world; and a gridlocked political system.
May the captains of industry and global governors guide, protect and direct towards a sustainable future with…
Truth, Trust & Transparency.