Walter Russell Mead, a very smart Council on Foreign Relations foreign affairs analyst, sees some blue patches in the otherwise cloudy global economic and foreign policy skies:
Economically, the better-than-expected unemployment numbers are part of a global trend. Financial markets are stabilizing, credit is becoming more available, and world trade is looking a little healthier. The security situation is also improving. US-Pakistani cooperation seems to have taken out the alleged terrorist behind the assassination of Benazir Bhutto. Despite continuing bomb attacks, the Iraqis are tearing down the walls built to separate religious and political factions in Baghdad. The continuing turmoil in Iran is bringing the west together and dividing the mullahs.
Know hope.
Prometheus Unbound 