Note: The longer version was published on October 26, 2008:
Special Report: War or Peace? The World After the 2008 U.S. Presidential Election By Richard C. Cook
November 22, 2008
The World After the 2008 U.S. Presidential Election
World war or world peace could be the blunt choice that will face either Barack Obama or John McCain when one of them is elected president of the United States on Tuesday, November 4, 2008.
For a major eruption of violence to be averted, the new president must deal positively with the reappearance of Russia on the world stage, the emergence of China as an economic force, and the aspirations of all the nations on earth for a decent and secure way of life.
Making matters much more dangerous are the ongoing financial crisis, along with what appears to be the start of a worldwide economic recession.
It is Europe, not the U.S., from which proposals are emerging for a transformative approach to the most compelling issues. But will it be enough?
THE DISASTROUS PRESIDENCY OF GEORGE W. BUSH
In December 2000, at the time the U.S. Supreme Court was intervening in the disputed vote count in Florida to name Republican George W. Bush president over Democrat Al Gore, the U.S. stock market began to crash. The “dot.com” bubble, based largely on foreign investment in internet companies and technology stocks, deflated. By the time Bush was inaugurated in January 2001, signs of a recession were appearing.
This did not prevent the Bush administration from initiating a $450 billion tax cut for the upper income brackets that Congress approved in March 2001. A similar cut was subsequently enacted in May 2003.
On September 11, 2001, the World Trade Center’s Twin Towers in New York City were attacked by airplanes flying into them, followed that morning by an air attack on the Pentagon in Washington, D.C. Al Qaeda was blamed.