With the Russian invasion of Georgia and the fighting continuing to escalate, it spells trouble for not just the American ally which is out-manned and out-gunned.
Many of the former Soviet satellite countries that now enjoy freedom, have condemned the attack and are undoubtedly worried that the Russians are beginning to take back the territory that was lost at the collapse of the Soviet empire.
European nations are concerned that the Russians are trying to gain control of the oil pipelines running out of Georgia to the rest of Europe. Britain, France and Belgium have all called for a halt of Russian attacks.
This fighting could spread very quickly into a much larger war as the worse-case scenario and will certainly cause a strain on US/Russian relations. The United Nations is helpless (once again) in any attempt to stop the killing and we are watching as yet another sovereign nation is under attack while they do nothing.
In another part of the globe, there is a real chance that Israel will feel that it needs to launch an attack against Iranian nuclear production facilities. I would bet the farm that they already feel this way and have not only made plans for the attack, but have practiced it. Such an attack will undoubtedly cause Iran to try some type of military counter move and who knows how the Arab nations will react.
With our military bogged down in Iraq and Afghanistan we can hardly afford to help either of our allies (Georgia and Israel) very much, but we might not be given the choice. We have American military personnel on the ground in Georgia already. If they come under attack by Russian forces, what will we do? If Iran is attacked and they decide to shut down the Straight of Hormuz, what shall we do?
These times are extremely dangerous. We should be very concerned.