1) $60 per barrel for oil does not kill demand for oil much and does not appreciably affect GDP.
2) There are a relative handful of demented human beings (jihadists) who are prepared to strap bombs to themselves and blow up innocent people in the name of Islamic extremism.
*Tune in this weekend to our Business Block, Saturday beginning at 10am ET, for more with Tobin Smith and the entire FNC business team.*
We can do nothing to stop these cowardly acts against innocent people. It's just a fact of life in a world where a small sect of deranged misanthropes is convinced that the highest and best use of their lives is to take the lives of others. Israel has lived with this reality for 20 years and still prospered.
The Western world is now rapidly learning to accept the sad collateral damage of jihadists in the same way as Israel — The only way to make sure they don't win is to NOT change the way we live our everyday lives, even as investors.
We do not have to understand what drives a young man to kill himself in the name of Allah to understand that their atrocities only help build resolve AGAINST their actions. So we must also resolve to do what we can to undercut them. American citizens and investors can take action to do that every day:
• Support any and all actions to REDUCE U.S. dependence on OPEC energy and INCREASE U.S. production of energy. Tell your congressman you are FOR drilling in Anwr. Every barrel we get from Alaska is one less we get from the Middle East. Also hybrid autos will be a major factor in the coming years. In the winter, wear a sweatshirt in your house instead of turning the heat up a little higher.
• Always remember this scourge of Jihadist murder/suicide in the Western world cannot and will not affect our economic expansion in ANY way. Capitalism and freedom is simply too powerful. From a stock-investing perspective the first impulse for many is to sell when we hear of a tragic terrorist attack. And many people will do just that. But the truth is when that happens terror incidents are BUYING opportunities, pure and simple.
These cowards will never understand how we value our freedom and democracy.
Tune in to this weekend our Business Block, Saturday beginning at 10am ET, for more with Tobin Smith and the entire FNC business team.