Crude oil is going to remain above $100 a barrel or will at least hover very close to it as tensions related to Iran and the Middle East continue to boil. Iran of course is at the center of this mess and will almost certainly set off World War III in the next five years. Fantastic.
Meanwhile, U.S. equities will trend higher without any significant developments in the Euro zone. Here are countries that are totally screwed one way or another: Ireland, Portugal, Greece, Italy, Spain, Belgium and among others (yet indirectly), the United Kingdom. The UK has all but left the European Union and once that disconnect occurs officially, the EU as we know it and possibly the Euro will come to an end.
In the political spectrum, you have the worst president ever (according to the latest approval numbers and my personal opinion) doing f—k all in terms of creating jobs and who continues to want to throw money around with no accountability. What I find interesting is the number of people who continue to blame Obama’s faults on George W. Bush. It has been three years since Bush was in office and if you can’t get over that, you are delusional.
Focusing on the GOP, the last debate showed that Newt Gringrich is a serious contender. It also shows that Mitt Romney is not invincible. It basically will come down to these guys whilst everyone else peters out after Iowa: Romney, Gingrich, Perry and Paul. Speaking of which, Ron Paul had a very strong showing this past weekend and while I believe he is “incapable” of winning a primary, it will be interesting to see if he can gather further momentum to his libertarian cause.
That’s it for now. I’m off to watch the markets. I haven’t had a position in weeks and I’m thinking January 100 calls in MCD would be a decent bet.