Are the Days of Wine and Roses Over?

While Treasury Secretary Robert Rubin is winning applause for shoveling $10 billion into South Korea to avert a default, it is clear neither he nor the IMF saw this crisis coming. Their soothing assurances have about them a ring of hollowness and trepidation… As 1997 ends, even William Jefferson Clinton’s …

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Dishonoring Our Fathers

“First in war, first in peace and first in the hearts of his countrymen” was the tribute of “Light-Horse Harry” Lee on the death of his old chief, the greatest American of his age, George Washington. Two centuries later, the father of his country has become an embarrassment to some …

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No More Bailouts — Abolish the IMF!

If the people of South Korea were starving, Americans would send food. If they were victims of a natural disaster, an earthquake or typhoon, planeloads of American doctors and nurses, shiploads of medicine and supplies, would be instantly on the way. But Asia’s financial crisis is not a natural disaster; …

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The Isolation of America

With Russia’s Yevgeny Primakov, the ex-KGB chief, emerging as the “honest broker” between the United States and Iraq, it must be clear now, even at the White House, that U.S. Middle East policy is in a shambles. Saddam Hussein is breaking out of his isolation; the Russians are back in …

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The Lost Allure of Global Free Trade

LONDON — President Clinton’s decision to pull his fast-track trade bill from the House floor early Monday morning rather than face a humiliating defeat marks a turning point in U.S. history. For the first time since World War II, the nation’s financial, political and intellectual elites have been repudiated on …

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