Zeev's Turnips Patch-No Politics (ZEEV)

[Lane Hall-Witt]

integrivest--

Actually, this explosion of anti-Americanism in Europe should be of concern to us all. I browse a variety of European publications periodically, and the anti-American sentiment is escalating at an alarming rate.

Just focusing on the consequences for us as investors and traders, one thing that's been clear in recent months is that Europe is repatriating boatloads of money that had been invested in U.S. assets. There are some who believe that this little rally we're enjoying right now is occurring largely because Europe vacations throughout August--.

Far more important and sobering, though, are the broader ramifications of this European anti-Americanism. The European Union, of course, gives Europe an economic counterweight to the U.S. (and Asia); there is actually some chatter emerging that Europe, including Germany, should establish deeper military ties among themselves, independent of the U.S., because we're increasingly regarded both as an unreliable ally and as a potential threat. A thinktank and policy-wonk vernacular is crystallizing these ideas, anchored in the concept of a European "de-coupling" from the U.S.

Whether anything truly frightening would come of all this chatter -- well, that still seems hard to believe. But merely the fact that serious people, in increasing numbers, are dreaming up such ideas should give all of us pause, Americans especially.

I know that Ronald Reagan's Eleventh Commandment was that Republicans shall not speak ill of one another, but as Americans we have a duty to hold our political leaders accountable for their performance on the job, party or political ideology notwithstanding. George wasn't simply saying that Bush is an idiot -- although he'd probably be quite happy to come out and say this, if he was asked. <G> He was citing a credible source which is in fact quite friendly to Bush (USA Today), informing us that there is a growing perception, even among our closest allies in Europe, that Bush is an idiot and that this perception (true or not) has the potential to damage U.S. interests. I can't make out why you would think that inappropriate in this forum.