What would the market and economic implications be if the Middle East explodes rather than settling down?
If you take the word “explodes” literally, pretty darn catastrophic. And if that’s your scenario, act as if a catastrophe is about to happen. I am no great optimist about the Middle East, but I don’t think that the kind of explosion that would interdict the world’s oil supply in a serious way is a likely scenario. Q: Will tax-cut proposals help in the near term? A: I think that the answer to that question is that the Bush tax-cut proposal will help no more than the Gore debt-reduction proposal. However, if what we’re talking about is the time-tested idea of cutting taxes to fight off a downturn in the economy, then should the economy tilt into a recession, a tax cut is a great idea. Q: Looks like the Dow is making a bottom at 10,020. Do you agree? It might be interesting to see what technical analysts say now. A: The answer is that I have no idea. It makes me unpopular with technicians, but I regard technical analysis as a form of voodoo. Q: Do you think the election campaign is contri
