US TREASURY BORROWS OVER $1 TRILLION IN SHORT TERM DEBT Its considered by many financiers to be a hugely risky operation, because it will mean refinancing more frequently, and yet it can't afford to borrow it long-term. US interest on its debt is now more than its defence budget for the first time ever. The EU has just decided to invest in a French proposed pipeline directly from Iraq through Jordan - and presumably Israel to bypass the American induced wars in the middle east. The problem more widely is American attitudes. The bullying cry of 'we will tariff you 100% if you don't do what we want'. Only more often now countries are simply ignoring the threat and going elsewhere. Canada is the leader- Australia, Japan and others have either signed or are about to sign major trade cooperation and resource deals becaue their one ally is so threatening.All of this matters because we are all seeing a massive history changing rupture in the way the world works - the middle powers are refusing to be held by Russian territorial Imperialism, America financial Imperialism or Chinese coercive Imperialism. They want to hold their own democratic ideal and reinforce it, not let it be swamped by International bullying of any kind. There's a different way and they intend on making it work, with the EU and other like minded states. The risk for America is that it will never recover its old position - no matter what the regime in America is made up of politically.