Familiar Territory

The Dow is back to the 11,400 mark today, where it was just before the collapse of Lehman Bros. was the keystone that wrecked the economy.

Mission accomplished.  You know, you'd think the Republicans would actually be thrilled with Obama in the White House, because he's done a great job with the stock market.

Now for the hundreds of millions of us that don't own any stocks or 401(k) plans, it's a different story.  Meanwhile, Obama's first move on the post Election Day chessboard is to give the GOP everything they want on extending the Bush tax cuts, costing us hundreds of billions in revenues.

I'm sure the Democratic base will continue to support the President's move to the center, and the Republicans will stop attacking him relentlessly any second now.

[UPDATE] Gold crossing $1,390 heading for $1,400, Oil above $86 heading for $90, dollar headed under 80 JPY.