Over the weekend, I noticed a number of commenters on various sites, wondering why futures for commodities were not up. Particularly gold and silver.
Quite honestly, Egypt just doesn't get the pulse racing. They are not significant oil producers, they are importers of wheat and other grains. That's not meant to minimize their struggle. In America, people are still buying gas and swilling beer. We won't care until...it costs Billy Bob 150 bucks to fill up his pickup and a six pack of beer costs 20 bucks. When that moment arrives, expect complete Armageddon.
I continue to expect the stock market to to ramp up as funds try to make some sort of return in an environment where there is no return anywhere else. The unintended consequences of QE2, and the effect Bernank is after, is runaway inflation. He prefers that to deflation and it is no small matter that our government wants the Chinese to de-peg their currency to ours. That is the real war that is raging, not Egypt. So far the Bernank has been quite successful at putting the screws to the Chinese. The Chinese will have their turn. I am sure of it.