It wasn’t so long ago that the US was the world’s lone superpower. You’d never know it, given the submissive stance taken by the White House of late.
Rather than lead on issues in the Middle East, Obama has let events dictate to him. He has been no where to be found on Libya, and now that war has all but been lost. Sure it makes sense to have allies in the area play the dominant role, but it does not mean you lay back and do nothing.
For years, global elites have been praying for the demise of US hegemony. It appears to finally be happening, to the detriment of the dollar and to the western alliance.