I believe that American/Israeli imperialism has a profoundly negative effect on present day humanity. It seems to me that in nearly every major political sphere in the United States, isolationism is seen as a very bad idea. People assert that preventing a "global economy" and "global culture" from happening is somehow unnecessary and unbeneficial. From what I know about American history, interventionist policies based on political (as opposed to humanitarian) interests have resulted in nothing but senseless deaths and resentment towards us by other nations. This in itself works against the globalist direction, but at the same time only assures that we're headed towards globalism in a forced manner with much resentment. I believe this is just a set-up for a global political disaster.
The American alliance with Israel is a big part of what makes us a target for Islamic terrorism in the first place. To answer your question, yes, I do believe that stopping terrorism is a good thing, because it is natural (and just) for a nation to protect itself. However, the United States government puts no energy in trying to discover why so many people hate us as much as they do, and they don't realize that they are partially responsible for creating these terrorist threats. So instead of trying to heal the wounds so newer generations of terrorists don't emerge, they just create an even bigger mess in Iraq. The political left in America is right when they say that Iraq was not a breeding ground for terrorists nor a threat to our nation at the time US occupation began, but it certainly will be in the years to come (and it already has started). American foreign policy certainly did help put Saddam Hussein and the Taliban in power, so to say that American muscle in the global community helps further the aims of the classical liberal philosophy is indeed foolish. Granted, I do believe there have been successful humanitarian and political ventures by the United States, but in my opinion they are outshined by our failures within the past 40 years. We've had a habit of setting up puppet regimes that end up being oppressive totalitarian states, and so long as they have benefited us, no one has complained.
Burke's famous quote definitely applies here. There's plenty of well-meaning people in the United States, but the political climate here has gotten so corrupt that even the small number of altruistic leaders have a hard time gaining any ground. Propaganda aimed at exploiting people's ignorance and fears helped George W. Bush win 2 elections, a man who's ideas in economics and foreign policy are so foolish and backwards, they wouldn't have even won him a presidential primary during most (if not all) of the 20th century. Even still, many Americans have great ideas, but few are willing to take the risk to work towards them. (How many liberals do you know who own an SUV but then talk about environmental protection, for instance?).
To sum it all up, the extensive financial and military support that the United States has given to Israel makes us a huge and obvious target for Islamic terrorism. Our own carelessness in our muscular foreign policy (you can be forceful but still be strong and in control) has led to allies that eventually turn to enemies. Both have enormous humanitarian consequences. American/Israeli foreign policy is, like you said, a bully. However, in recent years this bully is more like a common street thug than an organized crime syndicate. He's more likely to get killed because his work lacks the protection, organization, and intelligence that would go into creating a successful Mafia empire. The United States acts the way it does because it's become increasingly difficult for altruism to penetrate the political sphere, thus many good men are doing nothing and are allowing evil to spread and grow. America celebrates mediocrity and general ignorance of its people towards the rest of the world. (A few weeks ago, I was flabbergasted when someone I know had no clue who Condoleeza Rice was. If this occured around a larger group of people, I wouldn't be surprised if I'd somehow be labeled a nerd or be told I have "too much time on my hands" simply for knowing who our secretary of state is. If behavior like this is becoming more acceptable, how exactly can intelligence and altruism reign in our government?
Whether or not "might is right" in this case is a very difficult question to answer. I believe Might is Right only when the VAST majority of the world benefits, and this is not the case with American-Israeli military/cultural/political might.