February 5, 2012
Weekly Market Outlook
By Keith Schneider
Protesting “ongoing human rights violations”, feminists played topless street hockey in Switzerland to stop the IHF (International Hockey Federation) from having its world tournament hosted in Belarus, Russia. As they take their bras off, I take my hat off to the power of the female form revealed. (It certainly got my attention!)
Meanwhile, back in New York, the UN Security Council resolution, backed by the generally ineffective Arab League to force out Syria’s dictator Assad, was vetoed by both Russia and China. Putin has dusted off his KGB playbook from the cold war era by backing its proxies regardless of humanitarian issues. Social media and smartphones are rendering this mode of operating extinct.
Whatever opinion you might have about the current Obama administration, the effort to regain a moral high ground for the US as a world leader is succeeding. Ultimately, our proxy Mubarak stepped down when he lost support of the US. And so the worm turns.
Restoring confidence in ourselves as a Nation on core humanitarian issues has a positive ripple effect, and perhaps we are starting to see this play out in our economic results as well. Our jobless rate fell unexpectedly to 8.3, its lowest levels since the meltdown and far below most expectations. Like watching markets, when following the ticks one might miss the big picture. It may not be so obvious up close, but could it be we are actually getting it “right”? Just to see how right, check out this week’s video.
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