We don't hear much about Iraq anymore. Sure, there is the occasional story about some nut who blows himself up and takes a bunch of school kids with him in the name of Allah. But our 8-week attention span has now shifted to the R-word.
After the Asian markets dropped like a rock, the Federal Reserve Chairman, Ben Bernanke, took quick action [after dragging an anchor for 6 months] and lower the funds rate to 3.5%. The result: U.S. stocks dropped like a rock and the world forgot about Iraq or Palestine or some guy living in a cave making home videos.
Early this month before the stuff hit the fan, I asked if history would repeat itself and the economy become the center of the political campaign for a certain senator from New York. Well, duh!
Oh, the market today? Well, it's almost 10:00 AM and
It is the stupid economy.
..