The invasion of Iraq is a classic case of imperial overreach. The neoconservatives seem to be bent on dismantling the empire from within by causing a fiscal train wreck. For all of Niall Ferguson's shrill protests, the Eurocentric historical narrative is in shambles.

Now OPEC may shift to the Euro -- the end of dollar hegemony is at hand!

Do we see light at the end of the tunnel? See the Monthly Review for some detailed analysis.

P.S:Of course, I exaggerate for effect. We have a long struggle ahead of us.