Euro Climbs to 4-Year High as Dollar Continues to Weaken

The dollar fell to its lowest level against the euro in four years today after Treasury Secretary John W. Snow seemed to suggest that the Bush administration would not be unhappy to see the American currency weaken further.
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"Empire and the Capitalists"

No doubt, George W. Bush thinks he is in the forefront of those sustaining the world capitalist system. No doubt, a large part of the world left thinks that too. But do the great capitalists think so? That is far less clear. A major warning signal has been launched by Morgan Stanley, one of the world's leading financial investor firms, in their Global Economic Forum. Stephen Roach writes there that a "US-centric world" is unsustainable for the world-economy and bad in particular for the United States. He specifically takes on Robert Kagan, a leading neo-con intellectual, who has been arguing that American hegemony can only increase, particularly vis-a-vis Europe. Roach could not agree less. He sees the present world situation as one of "profound asymmetries" in the world-system, one that cannot last.
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  thanks to wood s lot