That could arguably be the conclusion based on how the US has been outwitted and practically led by the nose by Putin.
Gordon Chang quotes an article by Jim Hoagland:
“Russia is developing a comprehensive strategy of bleeding American power around the globe,” writes Jim Hoagland today. The invasion of Georgia was not “an isolated retaliation against a troublesome small neighbor.” “It is,” he maintains, “part of a broader effort by the Kremlin to establish new rules for big-power relations on its own terms while U.S. forces are stretched to their limits in the greater Middle East.”I believe you can make a similar case for how Israeli power, influence and self-esteem has been bled as well in the course of dealing with the multiple threats presented by Iranian proxies Hamas, Hizbollah, and ally Syria. Appeasement, whether initiated by Olmert or demanded by Condoleezza Rice, has weakened Israel in the eyes of her enemies.
The US policy towards Russian has been similarly flawed:
We have tried to placate Putin over the course of years but have failed. By now, we should know his goals are incompatible with ours. He is working to undermine what is left of the international system and replace it with a lawless one where autocrats are free to do what they want. Let’s stop him while we still can.You cannot make concessions with an adversary who has come to the table not to deal but to undermine.
This has been true with the PA and Hamas; it is becoming evident in our dealings with Putin.