Krugman had an interesting take on this. (today's NYT) He sees the main fallout as Russian's successful 'great game' of controlling oil transport. This had a huge potential for harming US and Euro interests. Today's folding as the US looked on may have been the best resolution we could have got. I remain convinced that our military solutions to the whole situation (Poland and missiles, Nato memberships for countries bordering Russia) had NO benefit to the US militarily, and rightfully antagonized Russia. There was a window of time when Russia may have looked to the US as its main ally. This event, along with the two failed wars may have marked the end of US hegemony.
hegemony, my definition: Overwhelming political and military power, best always denied, and exercised behind the scenes. To be used generally for the interests of allies and neighboring countries. Bush and the neo-cons loved bullying and war - results: defeat in Georgia, Iraq, N. Korea, Pakistan, and probably Afghanistan.
Note: saying it isn't so, doesn't make it not so.
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