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Tuesday, February 8, 2011


Well, for one, Glocca Morra is a fictional village in Ireland from Finian's Rainbow, so everything is made up.  But the real Ireland remains in financial jeopardy.  In this age possibly approaching what some might call doomsday, what harm can a little divergence from reality do to balance your psyche?  So more and more I will infuse the bad news with some nostalgic tangents.

Returning to the world today, Tunisia is metasable.  President Ben Ali fled to Saudi Arabia, and the country is now without leadership.

Egypt is clearly in transition, and whether Mubarak stays or not, the country will remain in turmoil for a long period.  Protests are beginning to shake Yemen, Jordan, Sudan and Algeria.  The following table from The Economist (5February2011) shows why all this is happening:

Leaders are staying in power too long with only a facade of democracy and are, well, corrupt.  If Saudia Arabia is infected with this political virus, oil prices will skyrocket past the $147/barrel of July 2008 and a world economic depression will loom.

So what about Glocca Morra?  Well, Finian's Rainbow closed on Broadway last month.  But the movie will live on, and as sung by Gracie Fields in 1947, Glocca Morra will continue to be fine, too ra lay.  More escapist fare, as the Academy Award song that year, in the spirit of singing your way to happiness, was Zip a Dee Doo Dah. Let us next move on to Brigadoon and segue back to What Dreams May Come.  Maybe I'll dream a better solution for our future.  Got any better ideas?

Another boffo day for the Dow Jones Industrials, +72 to 12,233, with world markets also almost all up.  
Gold is up $14 to $1364 and petroleum is $87/barrel in New York and $100/barrel in London.


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