The world political situation is reminiscent of the 1930s and the build-up to a world war.
Economically, we don't have an outright economic depression (yet) but that could still happen. After all, there is gradually slowing growth in the world economy since the recovery from the financial crisis. That combined with sky-high debt levels create the risk of financial accidents throughout Europe, Japan, China and the US. Not much has been fixed since the last financial crisis. Problems were simply papered-over with vast amounts of debt and money printing. A re-ignition of crisis could easily happen and a world-wide lapse into depression conditions is not out of the question this decade. I say depression because, in the event of a shock and economic downturn, there are no counter-cyclical policy tools remaining since the Central Banks and governments remain "all in" with their "emergency" stimuli 6 years after the crisis. There's nothing left for them to do and growth is still sinking.
Meanwhile, peace around the world is crumbling as tyrants fill the leadership role left by Obama's mindless and strategy-less withdrawal from everywhere and the attendant loss of US credibility. The decline of US power is reminiscent of the decline of England's power prior to the Great Depression. At that time, the new power in the world was the US -- who proved to be unable and unwilling to lead the world out of depression. Now, it's China's turn to fail the world as they struggle with their own failure of communism. Fail, it will.
You have a newly resurgent Islamic Jihadi forces making territorial gains in the Middle East threatening to engulf the entire region in a guerrilla war. Northern Africa is still in chaotic collapse. Syria civilians are being murdered with the support of the new Hitler-like figure in Vlad Putin. Putin is meddling and seizing Eastern European sovereign territory with Europeans just lobbing a few words at him while he sends in thugs to do his dirty work. You have China who is building up their military strength and beginning to strong-arm their neighbors with territorial claims that threaten other nation's sovereignty. Witness the planting of Chinese drilling rigs in Vietnamese offshore waters and their new air exclusion zone designed to encompass the Senakyu Islands claimed by Japan. It probably won't be long before Japan will re-arm in light of their conflict and threat from China. After all, Japan is in a 20 year long economic depression, and desperate to spend and print their way to "prosperity." A military spending program makes perfect sense for them. Meanwhile, the Chinese propaganda machine is whipping up anti-Japanese sentiment within China.
Obama didn't cause these problems but it's becoming clear that his "strategy" of widespread, mindless and unilateral withdrawal and retreat is worsening every problem.
We're finding out what happens when America is not providing it's accustomed leadership in the world. I'm talking about diplomatic leadership backed by a well-communicated strategy. But there's no strategy. There's no credibility. The truth is that Obama and all the idiots on his staff are strategy-less. Obama is like Chauncey Gardiner in the movie "Being There" who brainlessly opines with simplistic chatter that is mistaken for wisdom. There is a serious intellectual vacuum at the heart of this administration. Putin will out-maneuver Obama every time. We're literally in the hands of idiots at a time of danger.
Furthermore, Obama is blinded by an absurd and foolish political correctness about the evil intent of Muslims in the world. Muslim terrorists rampaging in the Middle East, as they have for centuries, have again reminded us that they seek a Muslim caliphate across that region. And it's happening before our very eyes. His appeasement of Iran's evil Mullahs may very well end in the world's biggest disaster in 100 years -- Iran going nuclear.
The problem for the West isn't Islam fundamentalists. It is Islam itself. This is the heart of the problem for Muslim sympathizers like Obama. A good assessment of the situation comes from the National Interest:
The underlying problem for the West is not Islamic fundamentalism. It is Islam itself, a different civilization whose people are convinced of the superiority of their culture and are obsessed with the inferiority of their power.
Islamic "culture" represents the de-evolution of a cult-like group of people back to what seems like the stone age. They will never integrate into any other culture since they are so backward, so ignorant and so stubborn in their ignorance.
Not only are current events deteriorating by the day, but the withdrawal of US influence and credibility is storing-up even bigger problems down the road. Wait till Afghanistan is over-run by terrorists and Jordan is under attack. The Jihadist instability may even threaten Pakistan. Wait till Iran announces they have a nuclear device. Wait until Putin intervenes in other areas of E. Europe now that he's learned there are no consequences of seizing territory. Wait till we have a full-fledged refugee crisis at the US Southern border essentially caused by Obama and Biden's loose lips encouraging illegal immigration.. Wait till China attacks Japan. Wait till the financial crisis, where nothing much was fixed except papering-over by massive debt, reasserts itself here and abroad and essentially no counter-cyclical policy tools remaining. All would be symptomatic of our discredited, foolish and/or nonexistent leadership.
What do you expect when Chauncey Gardiner comes to power? But sadly this is not a movie.