Iranian speedboats reportedly menaced U.S. warships in the Strait of Hormuz on Jan. 6. Since then, the United States has emphasized the threat posed by Iran to U.S. forces in the strait and to the transit of oil from the Persian Gulf region.
A critical explanation for the lack of major U.S. market declines is the massive inflow of dollars to the United States from China and the Arabian Peninsula.
Palestinian President Mahmoud Abbas and Israeli Prime Minister Ehud Olmert will meet in Annapolis, Md., on Nov. 27 for a peace conference hosted by U.S. President George W. Bush.
The latest reports concerning the war in Iraq suggest the situation is looking up for the United States. The important question, however, is whether we are seeing a turning point.
