Now that we've given our consent to the killing continuing, I personally think it would be in our interest to put lots of boots on the ground, on the land of Syria's neighbors. Boots carrying food, water, shelter and medicine. I think that would do more for America's image right now than 1,000 cruise missiles.
Morici warns that inaction will harden Assad's resolve, that the Russians can't be trusted, and that American credibility has been damaged. Maybe the crisis is not yet over.
But economically, this is a big win for the markets. Fear keeps oil prices high, and high oil prices are now a huge benefit to us. Thanks to shale oil, and shale gas, and the cheapest form of renewable energy, which is efficiency, the U.S. economy is accelerating on its own, for the first time this decade, and there is money to be made.
Greed is a big winner in this crisis. The S&P 500 is up almost 18% so far this year. The Dow is up 16%. The Russell 2000 is up 24%. Travel is up, car sales are up, house prices are up and unemployment is down.Even the defense stocks are up. Lockheed Martin (LMT) is up 35% so far this year. Northrup Grumman (NOC) is up 40%. Halliburton (HAL) is up 44%. (Cha-ching, Dick Cheney.) If this is failure, I suggest we make the most of it. In the wake of this crisis, President Bush's advice for Americans facing the Iraq war comes to mind. Let's go shopping. At the time of publication, the author no shares in companies mentioned in this article. But he's long America. Follow @DanaBlankenhor This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV