ing local sovereignty and the economicrnwell-being of each. Under that proposal,rnKosovo would be one region and Metohijarnanother, even though until 1945rnMetohija was part of Montenegro, andrn60 percent of its properties were ownedrnby the Serbian Orthodox Church. Thisrnproposal seems to have little support.rnA third proposal would divide Yugoslaviarninto three federal units—Serbia,rnMontenegro, and Kosovo. This proposalrnseems to have significant support amongrnsome Albanian leaders, because they seernit as an important step toward independence.rnSerbia, however, is unlikely everrnto accept such a status.rnA fourth proposal, and the one thatrnseems to have the most to recommend it,rnwould provide broad autonomy for Kosovo,rnbut would not create a “state within arnstate,” as the 1974 constitution effectivelyrndid. Belgrade has more than once indicatedrnthat it was ready to agree to autonomyrnequivalent to that enjoyed byrnminorities in Corsica (France) and inrnTyrol (Italy). But Albanians would havernto forget about their dream of independence,rnwhich few seem willing to do.rnIn May 1998, there was an Americanbrokeredrnmeeting between Milosevicrnand the seemingly moderate Kosovornleader, Ibrahim Rugova, designed tornlaunch a peace process. Meetings of therntwo negotiating teams have either notrntaken place or have accomplished nothing,rnmainly because the LAK has continuedrnand even increased its guerrilla actions.rnThe negotiations, if they takernplace, will be long and arduous. As ofrnthis summer, Rugova has had little successrnin calming the partisans of the KosovornLiberation Army, who seem to havernno interest in a peaceful solution.rnAmerica’s Contact Group partnersrnwere somewhat upset when PresidentrnClinton’s agent, Richard Holbrooke,rntried to find someone who represents thernLAK, even posing with one of the warriorsrnwho held gun in hand (without hisrnconsent, he told the Serbs), particularlyrnwhen the United States had recentlyrncalled the movement “terrorist.” In anyrnevent, he failed to find a military or a politicalrnchief of the loosely organizedrnrebels.rnThe Contact Group for a time flirtedrnwith the use of NATO air strikes againstrnthe Serbs, but the futility of such a movernsoon became apparent, particularlyrnsince there was division in NATO, in additionrnto Russia’s opposition. There havernbeen indications that the United Statesrnwould favor independence for the KosovornAlbanians were it not for the fact thatrnthis could cause boundaries all over thernBalkans to unravel. First, there is Macedonia,rnwith an Albanian minority (betweenrn20 and 30 percent) who have nornautonomy and who would likely join anrnindependent Kosovo, with both very likelyrnbecoming part of a Greater Albania.rnConsequently, the very existence ofrnMacedonia would be in question. Secondly,rnif Kosovo were to leave Yugoslavia,rnno valid arguments could bernraised against the dismantling of thernBosnian state, created by the Dayton Accords.rnThe Bosnian Serb republic wouldrnjoin Yugoslavia and the Croatian partrn(Herceg Bosna) would become part ofrnGreater Croatia. What then would becomernof the Muslim state around Sarajevornthat the Clinton administiation did sornmuch to create?rnOne thing seems certain: unless thernYugoslav forces can put an early end tornthe LAK insurgency (to be followed byrnnegotiations), all sorts of Balkan dominoesrnwill fall, an outcome that few wouldrnwant to contemplate. On the otherrnhand, given the way that the West hasrnmismanaged the whole Yugoslav question,rnno one should be surprised if thatrncomes to pass.rnAlex N. Dragnich is a retired professor ofrnpolitical science.rnECONOMICSrnWall Street Boom,rnMain Street Doomrnby Bob DjurdjevicrnAmerica’s economy is in great shape,rngovernment officials and the establishmentrnmedia tell us. “Just look at thernstock market,” they say, pointing at thernrecord-breaking Raging Bull of WallrnStreet which set a new 12-month high ofrn9,377 in July. To such “bulls,” I say,rn”Bull!” Using today’s stock market as arnbarometer of the economy is like citingrnthe Las Vegas odds to gauge the health ofrncollege education.rnOnce upon a time, the stock marketrnmay have had some, however tenuous,rnconnections with the fundamentals ofrnthe companies whose shares it traded.rnBut that was back in “the good old days.”rnToday’s stock exchanges have becomernalmost totally decoupled from the economicrnreality of the companies whosernshares they trade. Instead, they are casinosrnat which the big business elite dornwhat “Joe six-pack” does when and if herncan afford a trip to Las Vegas. Both playrnthe odds on whim and emotion: the formerrnwearing pin-striped suits, the latterrnin jeans and T-shirts.rnModern Wall Stieet is a game of cashflows,rnnot GDPs (Gross Domestic Products).rnIt is a market ruled by supply andrndemand. The more money available forrnWall Stieet to invest, the higher the DowrnJones matadors’ capes will fly. The boostrnwhich Wall Street received from thernAsian crisis last fall is a case in point. Thernmoney pulled out of Asia by the globalrn”Joe six-packs” washed up on America’srnshores.rnBut possibly the biggest sustainedrnboost which the Bull of Wall Street receivedrncame from the pension funds.rnStocks were once considered too riskyrnfor people to gamble their retirementrnincomes on. No longer. Throwing cautionrnto the wind, large pension funds —rnfrom state employees to labor unions tornFortune 500 companies —entered thernWall Stieet casino, increasing its moneyrnsupply and boosting stock prices.rnThose who claim that stock marketrnprices and national GDPs are somehowrnlinked to each other are creating an illusionrnof prosperity. They are part of arnruse, a brainwashing effort to help thernWall Street Hoover suck the savings outrnof the Main Street suckers’ mattresses,rnwhich in turn could lead to an evenrnhigher concentration of power in WallrnStreet’s pockets; in other words, to increasedrnPLUTOCRACY!rnLet’s consider some aspects of America’srneconomic reality. America is rapidlyrnbecoming the World’s Biggest Jail.rnNearly 600,000 able-bodied Americansrnare languishing in the nation’s prisonsrnrather than producing in the country’srnfactories or offices, according to a JusticernDepartment study cited in the April 27rnWall Street Journal. That’s up 43 percentrnfrom mid-1989, roughly the timernthe New World Order was born. So anyrntime you look at the supposedly low U.S.rnunemployment statistics which the establishmentrnmedia feed to us, rememberrn44/CHRONICLESrnrnrn