Too much is happening, so I will restrain myself. Here come some brief and assorted comments.
Israel — Obama, bless him in this instance, has not responded to blackmail by Bibi Netanyahu. Is Likud trying to influence US elections? Uh huh. Will it encourage American Jews to support the Republican crazies who want to create a "final" mid-east war and bring on the Apocalypse? I don't think so. Jews, on average, are just a little bit smarter than the average redneck.
Eurozone — The German court and the Dutch electorate seem to think it's important to maintain the Euro, mostly because they have made a lot of money from the single currency. Granted, the Euro may not survive — but nobody in Northern Europe wants further erosion of exports.
The Mohamed Movie — Honestly, I don't know if I've seen the original movie trailer because there are so many parodies on YouTube. I tried, anyway. Most interesting, though, is the conjecture about who financed the idiotic but nevertheless inflammatory film. The career criminal now accused of being behind the film — if anybody is thinking about him at all — almost certainly was paid for his efforts. By whom? (Nobody's talking.) Let's think: who profits?
QE3 – While I appreciate the fact that the Fed is trying its best, I don't think monetary policy can do the trick at this point. Just as in Europe, we need fiscal policy. Europe can't do it because it has no fiscal union. We can't do it because we have Republicans — and, hence, no fiscal policy.
It's turning into another of those goddamned months. I'll try to stay on top of things.