China is a sleeping giant. Let her sleep, for when she wakes she will move the world.” Napoleon Bonaparte France’s future emperor never saw China, but he was wise enough to understand its immense latent strength and future importance. Two centuries after making this prediction, China has proved the Corsican correct. Last week, China feted... Read More
According to the great military thinker, Maj. Gen. J.F.C. Fuller, ‘the object of war is not victory. It is to achieve political goals.’ Too bad President Donald Trump does not read books. He has started economic wars against China, Russia, Iran, Cuba and Venezuela without any clear strategic objective beyond inflating his ego as the... Read More
I was very interested to see Senator Bernie Sanders take a group of American diabetics from Detroit to Windsor, Ontario to buy insulin. I used to own a pharmaceutical company in Windsor. In Canada, the life-saving medication insulin, which was invented in Toronto by Drs. Banting and Best, costs a tenth of what it does... Read More
I don’t like flying. I consider it unnatural, unhealthy and fraught with peril. But I do it all the time. For me, it’s either fly or take an ox cart. In fact, I’ve been flying since I was six years old – from New York to Paris on a lumbering Boeing Stratocruiser, a converted, double-decker... Read More
PARIS – ‘To arms, Frenchmen! Man the barricades!’ No, it’s not the French Revolution of 1789 but a sort of déjà vu. France is now gripped by an increasingly ugly, dangerous leftist uprising that could ignite similar unrest across Europe. The world’s premier tourist destination is being plunged into chaos. A ham-handed attempt by the... Read More
My father, a New York financier, used to call dubious stocks or bonds, “Chinese paper.” Last week, we saw a blizzard of Chinese paper, both in China and around the world. As manager of a sizeable investment portfolio (an unwelcome second job from my main work, journalism), I watched last week’s near death experience on... Read More
Grand Cayman: In 1503, when Christopher Columbus discovered this remote island group between Jamaica and Mexico’s Yucatan, its only inhabitants were crocodiles, turtles, iguana and insects. He named it Las Tortugas. It didn’t take long for Tortugas to become the most notorious pirate’s lair of the West Indies from where they preyed on Spanish treasure... Read More
LONDON – This week, the European Commission President, Jose Manuel Barroso, actually scolded Germany for producing too efficiently and exporting too much. Were the amiable Barroso not EU Commission president, he would likely be sitting under an olive tree in his native bankrupt Portugal, strumming melancholy fado songs on his guitar. What a lot of... Read More
NEW YORK – “Banana Republicans,” sneered the Democrat’s leader, Senator Harry Reid. It’s not certain if Reid was comparing his conservative Republican opponents to monkeys or citizens of a Central American banana republic. Either way, Reid’s nasty remark captured the bitter animosity surging through the US Congress as the mighty United States faces running out... Read More
The last time Greece faced a crisis of this magnitude was in 490 BC when the armies and fleets of the Persian Empire were converging on Athens. The great Athenian leader Themistocles rallied his countrymen and defeated the Persians. Alas, this time Greece has no Themistocles to save the embattled nation. Unlike the incompetent Persian... Read More
My parents, who lived through the 1930's Depression, taught me two rules: don't buy anything until you can pay for it with your savings; and always save a sizable portion of your income. The United States, once powerhouse to the world, is hooked on debt. America has become so addicted that regular hits are necessary... Read More
Do we need more proof that politicians should never be given national credit cards — unless, of course, they are German, Swiss or Scandinavian. The thunder of crashing equity markets, the humiliating downgrade of America's once gold-standard credit rating, and stern lectures on financial rectitude from the Chinese Communists of all people are the latest... Read More
BARCELONA — Viva la revolution! Spain's youth are staging boisterous but peaceful protests across the country that many call the Iberian version of the popular revolutions sweeping the Arab world. Plaza Catalunya, the center of this marvelous city that pulses with life and fun, is packed with young demonstrators waving placards calling for revolution and... Read More
Once, while driving in rural Virginia, I saw a billboard that proclaimed, "Jesus Saves." Some wag had scrawled across the bottom, "But Moses invests." Today, change that to "the US borrows while China lends." As my friend and veteran columnist Arnaud de Borchgrave writes, while the US has wasted $1.5 trillion on its Afghan and... Read More
One day, the emperor of ancient Babylon summoned his treasury overseer and exclaimed, "I need more money to wage war on those filthy Hittite terrorists! "But I looked in my great treasure chest and it's nearly empty. There are hardly any gold coins left," he thundered. "Oh Light of the Euphrates," groveled his terrified minister,... Read More
TORONTO – Broken store windows have been repaired, burned out cars and debris removed. Security barriers that turned much of downtown Toronto into a fortress are gone, and so has a small army of police and security agents. The hooligans have decamped. To everyone’s relief, the G8/G20 economic summit held in Toronto and a lake... Read More
In history's first major airborne assault, just after dawn on 10 May, 1940, 71 German paratroopers from Luftwaffe General Kurt Student's elite 7th Fliegerkorps landed from ten gliders atop Belgium's Fort Eben Emael. Huge, heavily armed, Eben Emael was Europe's most powerful fortress. The fort covered an area equal to 70 American football fields, or... Read More
One of history's most important lessons is that politicians should never be given a free hand to borrow money to cover the costs of wars, overseas adventures, or military spending. More empires have been brought down by reckless spending than by invaders. The late Soviet Union, which wrecked its economy by buying too many tanks,... Read More
Before we discuss what's left of the economy, a few words about one brave man. The shoes Iraqi journalist Muntader al-Zaidi threw at George Bush in Baghdad had more courage and truth in them than all the honeyed, sycophantic words of America's fawning media. Zaidi reminded the world that George Bush, Dick Cheney and their... Read More
Now that there has been a respite in the financial tsunami sweeping the globe, finger-pointing is sure to begin. The chief culprit for this near-death experience must be the star-crossed Bush administration and its reckless financial policies. The roots of the current financial crisis began before President Bush took office. During the Clinton years, finance... Read More
Terrorism and the Green Peril from Araby now menace America's major ports. That's what a bunch of hysterical American lawmakers are loudly claiming after the takeover of Britain's venerable Pacific & Orient Steam Navigation company by Dubai Ports of the World, a state firm owned by the United Arab Emirates. U.S. President George Bush did... Read More
Eric S. Margolis is an award-winning, internationally syndicated columnist. His articles have appeared in the New York Times, the International Herald Tribune the Los Angeles Times, Times of London, the Gulf Times, the Khaleej Times, Nation – Pakistan, Hurriyet, – Turkey, Sun Times Malaysia and other news sites in Asia.
He is a regular contributor to The Huffington Post, Lew Rockwell. He appears as an expert on foreign affairs on CNN, BBC, France 2, France 24, Fox News, CTV and CBC.
His internet column www.ericmargolis.com reaches global readers on a daily basis.
As a war correspondent Margolis has covered conflicts in Angola, Namibia, South Africa, Mozambique, Sinai, Afghanistan, Kashmir, India, Pakistan, El Salvador and Nicaragua. He was among the first journalists to ever interview Libya’s Muammar Khadaffi and was among the first to be allowed access to KGB headquarters in Moscow.
A veteran of many conflicts in the Middle East, Margolis recently was featured in a special appearance on Britain’s Sky News TV as “the man who got it right” in his predictions about the dangerous risks and entanglements the US would face in Iraq.
A native New Yorker, he maintains residences in Toronto and New York, with frequent visits to Paris.