The Market needs a vacation as much as I do. It is fitting that as I pack my bag, Sunday night, preparing to take my family to Orlando for a trek through Disney and other theme parks, I am watching the S&P futures up 4 points. It has been a weekend filled with America launching cruise missiles at Gaddafi’s air defence “assets”. Nighttime raids by masked men in Bahrain, rounding up protest leaders.
Tensions continue to grow between Saudi Arabia and Iran. Yemen’s leader dismisses his entire cabinet, though most of them were getting ready to resign as Saleh continued deadly attacks on his own people. Hammas is digging “terror tunnels” along the border with Israel. Russia is mouthing off to the west. Japan is far from out of Nuclear Crisis mode. A power line hooked up does not end one of the worst nuclear accidents in history.
I have yet to hear a concrete assessment by the Japanese authorities, because they don’t have one. It will be some time before they do. We are living in a vacuum of information as to the fate of the Japanese civilian population. The republicans will use the Libyan engagements as fodder to attack the Obama administration and further polarize the two parties, leading to an even more strained budget debate.
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