The catalyst for the third crisis is the victory of Hamas in the Palestinian parliamentary elections. But it’s being stoked by a combination of wishful thinking and a stubborn refusal by the Bush administration to acknowledge the limits of its power. Today, the three crises are on the verge of fusing into a challenge to US dominance that it has no hope of overcoming. Unfortunately, no one in Washington is sufficiently far-sighted or dispassionate to realise this.