If you think 2014 has been a year of unraveling and disorder, just wait.
So Paul Krugman , who once called on Alan Greenspan “to create a housing bubble to replace the Nasdaq bubble”; who, a few months before the eurozone crisis erupted, praised Europe as “an economic success” that “shows that social democracy works”; who, as the U.S. fracking revolution was getting under way, opined that America was “just a bystander” in a global energy story defined by “peak oil”; and who, in 2012, hailed Argentina’s economy as a “remarkable success story”—this guy now tells us, in Rolling Stone magazine, that Barack Obama has been a terrific president.
Which can only mean that the next two years are going to be exceptionally ugly. How to get through them?
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I ask the question not as an exhortation to subscribe to Survivalist magazine, stock up on tuna fish and Zithromax, and master the arts of homolactic fermentation. In fact, if you’re a resident of the U.S., you’ll probably be OK. What Americans call a recession is what the rest of the world considers affluence. What we call disaster is what others know as existence.
But imagine if you are one of the pro-democracy student leaders in Hong Kong; or the president of Estonia or another country in Vladimir Putin ’s sights; or an anti-ISIS Sunni tribal sheik in Iraq; or a commander in the Kurdish Peshmerga; or a fighter in what remains of the Free Syrian Army; or the new president of Afghanistan; or the prime minister of Israel: What are you going to do then? How do you navigate a world in which you can no longer expect the U.S. to serve as a faithful ally and reliable buffer between you and your enemies?
Don’t think those questions aren’t on foreign minds. The other day, Mikhail Khodorkovsky, the Russian oil oligarch turned political prisoner turned (since his release earlier this year) democracy activist, paid a visit to the Journal’s offices in New York. We asked him how Vladimir Putin would react if the U.S. were to arm the Ukrainians or send forces to the Baltics.