Speaking of jerks in politics, I think our other big caveat is Big Bill Clinton and his sudden urges to bomb Iraq.
Since it's clear he hasn't got the cooperation of lots of important players (like, say, the Saudis), if he ends up going ahead with it, I expect lots of the usual financial turmoil: precious metals and Swiss Franc up, Asian currencies & stocks (esp. Japan) down, US stocks down. I also expect a more protracted effect than during Kuwait, precisely because of the lack of unanimity.
I'm hoping he, ahem, pulls out in time.
Grumble,
mb |
