From NYTimes on the web, article at http://www.nytimes.com/2008/03/17/opinion/29cohen.html:
Never before have U.S. fortunes been so tied to the world’s. Americans see that. When your mortgage is packaged into some ingenious security that’s sold to a German bank before the scheme unravels and you lose your house, the globe looks smaller.
No, "Americans" don't see that. Would it be wise for "Americans" to see that?
With some 30 percent of the revenue of U.S. corporations coming from overseas, and the Chinese buying American debt, and more than seven million people naturalized in the past decade, it’s harder to separate America’s fate from that of others. Isolationism is not merely wrong, it’s impossible.
Really? Is not "America" the "indispensable nation", as former Secretary of State Madeleine Albright has declared? Does it not seem like the world's economies (or economy) relies on an intimate interdependence?