The renewed tensions between the US and Russia do not bode well for cooperation and harmony while trying to work out the world's economic crises.
The expansion of NATO and the US anti-missile shield have provoked Russia into closer relationships with Cuba, Venezuela and Iran. Those, and others, come at a time when the US military is stretched beyond capacity. Russia and China may have military assets which aren't committed to causes which appear lost. If they aren't lost, after 5 and 7 years they are what "lost" looks like.
The US has committed $8.3 trillion dollars it doesn't have to the bailout. While Russia and China are also stressed, they seem to be able to focus their spending in ways the US can't. They may be in a bit better financial shape than Bush will have left the US.
The only purpose for the missile shield is to protect the US from retaliation should we decide to attack a country armed with missiles. The idea of a "rogue nation" firing off missiles because they hate democracy or the American way of life is nonsense. Among others, the Russians have missiles, and will do whatever they have to in order to keep their deterrence effective.
There is talk of Medvedev's rhetoric being reminiscent of the Cold War. There may be a good argument for the US having provoked that. Had Russia been seeking military alliances with Canada and Mexico and started moving into the Bahamas and eyeing Puerto Rico the US would be getting a bit tense, too.
Sometimes "cause and effect" seem to be ignored. When the forces of freedom are stymied in their attempts to inflict democracy, capitalism and free trade zones upon everyone else folks are shocked by the underhanded, unfair and evil intent of the badguys.
A new Cold War is been started, complete with expenditures which benefit the few at the expense of the many.
Arf
Another aspect of the "Bush Legacy".
