Kahuna,

I agree, things are changing substancially in how we are viewed by the world and our "power" and influence. I think multiple factors have contributed to the eroding respect with regard to our country, including but not limited to our foreign policy and the present financial debacle.

That being said, the statement, "French President Nicolas Sarkozy in particular has pressed for the economic summit to be held in New York City, where, he says, "everything started." really bothers me. Had each and every country involved in this mess not participated in the same shady financial dealings and speculation in an effort to ride the wave of greed they wouldn't have much to complain about. No one forced them to invest, they did so just like everyone else, because they thought they could make money. I doubt they were duped, rather they participated at the same level with regard to mortgage repackaging , credit default packages,etc that everyone else did. Unfortunately we seem to be the "bad guy". This is a global economy and to shift all of the blame to the U.S. is unreasonable. Unfortunately I think it further speaks to our eroding position as a world power.
Just my opinion. I would appreciate your opinion on it though.