The president of Russia, Dmitry Medvedev has called on the powers of Europe to form a new alliance that is not based on the United States as the fulcrum of western politics and finance. From the Telegraph:

In a speech delivered to European leaders at a conference hosted by President Nicolas Sarkozy of France to discuss the international financial crisis, Mr Medvedev sought to show that the United States was at the root of all the world’s problems.

He blamed Washington’s “economic egotism” for the world’s financial woes and then accused the Bush administration of taking Europe to the brink of a new cold war by pursuing a deliberately divisive foreign policy. He also maintained that the United States was once again trying to return to a policy of containing Russia.

Are we escalating to a new cold war with Russia? We are stretched on as many fronts as we can go currently, it may not be in America’s best interest to continue to make enemies when we are on the verge of bankrupting our nation due to many factors, one of them being the backbreaking cost of defense and occupation of several parts of the world.

Personally, I don’t see this really accomplishing anything on behalf of Russia. This seems to be a series of political postures on Medvedev’s part but nevertheless, it looks as though the “smaller fish” are starting to pick and jab at the “big fish” of the pond.