The Dow fell by 213.36 points today, the largest decline in a single session since April 2003.
Oil was up to over $68 a barrel. Iran is pulling money out of Europe. Citibank and GE had disappointing earnings.
Iran is getting frisky and reminding us they can shut that oil off any damn time they feel like it. After all it is their oil.
Well, the mullahs claiming that oil is their oil is a lot like a bank robber claiming the money in the vault is his money.
I remember the Oil Crisis. The people that were the most hurt were the poor, here and all over the world. It precipitated the largest transfer of wealth in history and the people who made the most money off that debacle spent it on Terror and gold encrusted toilet seats.
At what point does the world say it is tired of a bunch of autocratic midieval crybabies and vengence seekers controlling the world economy?
Would we be better off we just bombed Iran's oil facilities and beat them to the punch? With 80% of his country's GDP gone how long would the mad mullah with the green aura last?
Midsummer Reflections on the Stock Market
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