U.S. global leadership is dwindling: "An intelligence forecast being prepared for the next president on future global risks envisions a steady decline in U.S. dominance in the coming decades." According to the U.S. intelligence community's top analyst, U.S. leadership is eroding "at an accelerating pace" in "political, economic and arguably, cultural arenas."
Market diving, another massive bank may collapse: Stocks fell 280 points on Tuesday, a dive that was accelerated when concerns mounted about the Lehman Brothers investment bank's ability to raise capital. "Waves of selling wiped out nearly half of Lehman's value in the stock market on Tuesday, leaving the firm, one of the nation's oldest and largest investment banks, in an all-out fight for survival," the New York Times reported.
Fear of violence, terrorism slows Iraq withdrawal: "U.S. defense officials said the president's decision to withdraw only 8,000 soldiers from Iraq reflects a persistent concern among top commanders that the improvements in security could be temporary and that renewed violence could erupt. Officials fear that Iran might reactivate the Shiite Muslim militias it's armed and trained and that the Sunni group al Qaida in Iraq is trying to reestablish itself in Mosul, Iraq's third-largest city."
Iraqi parliament gridlocked: "Iraqi lawmakers returned from their summer recess Tuesday, still gridlocked over the critical law on provincial elections and with no new vote in sight."
Economy weakening: "The U.S. economy continues to be marked by weak housing and labor-market conditions," the Wall Street Journal reported today, "suggesting economic performance will be sluggish at best through the end of the year."
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