Thursday, March 03, 2011

Hugo Chavez to the rescue!!

So while the US foreign policy team has stopped, started and stammered it's way through the Middle East/North Africa revolutions, the markets have soared this morning on a rumor that Hugo Chavez of Venezuela (yes, that Hugo Chavez) has stepped in to broker a deal. Oil is down and stocks are up around the globe because Chavez appears to be working some sort of backroom negotiations.

I don't believe for a second that the protesters in Libya are planning on negotiating a settlement, but this is what the market believes right now so it makes sense to plan accordingly.


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