Interestingly, I have received a surprising amount of feedback that yesterday's blog, which listed my concerns for the market this Fall, did not include anything about Syria. The reason is that I don't expect anything to happen, i.e., that the U.S. will not attack Syria.
I wish the President had immediately lobbed a couple of dozen Tomahawks into Assad's back yard and then apologized for his haste later, before his political opponents got organized and the very real counter-threats from other countries could develop. Unfortunately, that didn't happen, and it is too late now.
The President will be weakened politically in the U.S., but his Nobel Peace Prize will shine even more brightly abroad. (Like his Democratic predecessor, Bill Clinton, he will always be more popular abroad than here.) When Assad massacres more women and children, as he certainly will, Obama will be in position to remind us, both here and abroad, of his moral outrage.
However, I am somewhat concerned that his resulting weakness here will cause the Republicans to over-reach during next month's debt ceiling negotiations. That would be unfortunate for all of us! The President's moral indignation is probably quite high now, following his embarrassment over our impotent response to the last Syrian massacre, and this might make him more difficult to negotiate with.
If I am wrong, the market will drop dramatically, e.g., several hundred points on the Dow, as soon as the market believes a strike is certain. That will be a great buying opportunity. Of course, it would be a better opportunity if . . . oh, yeah, we still have gridlock . . . never mind.
I wish the President had immediately lobbed a couple of dozen Tomahawks into Assad's back yard and then apologized for his haste later, before his political opponents got organized and the very real counter-threats from other countries could develop. Unfortunately, that didn't happen, and it is too late now.
The President will be weakened politically in the U.S., but his Nobel Peace Prize will shine even more brightly abroad. (Like his Democratic predecessor, Bill Clinton, he will always be more popular abroad than here.) When Assad massacres more women and children, as he certainly will, Obama will be in position to remind us, both here and abroad, of his moral outrage.
However, I am somewhat concerned that his resulting weakness here will cause the Republicans to over-reach during next month's debt ceiling negotiations. That would be unfortunate for all of us! The President's moral indignation is probably quite high now, following his embarrassment over our impotent response to the last Syrian massacre, and this might make him more difficult to negotiate with.
If I am wrong, the market will drop dramatically, e.g., several hundred points on the Dow, as soon as the market believes a strike is certain. That will be a great buying opportunity. Of course, it would be a better opportunity if . . . oh, yeah, we still have gridlock . . . never mind.
