The US response to Ebola has been less than sterling, but of course we should keep the Federal Government out of it, close the CDC and let the states handle it (cue cheering for Sarah Palin) right? Maybe Texas can take the lead. They've been storing Ebola tainted linens in garbage bags bought at Home Depot (new motto: "we help with medical waste too!")
Here's what we know folks: There are two health care workers in Texas who were infected despite the precautions taken. President Obama has canceled two trips this week to stay at the White House to work on this problem. Do we know for sure exactly how this virus is and isn't transmitted? Assume for a moment that Ebola can be transmitted like the flu. And you think the markets are shaky now? Say good bye to most of the airline and transportation stocks for a while. And the economy as a whole will be hit hard, as travel restrictions and fears hits tourism and business travel and people stop going to Malls and restaurants and movie theaters, and interstate food transportation, and then ......? It gets bad fast. The CDC announced yesterday that the current rate of new cases in Africa - 1000 a week, will reach 10,000 a week before the end of the year.
The Russell 2000 is off 11% for the year. The NASDAQ is off 8.6 of it's highs- any drop of 10% off a yearly high is considered a market heading into a correction, which means the bottom falling out for a while. Seems like quite an opportune time for the Russians to cause some problem in the Ukraine and the Chinese to stake out some more disputed territory in Asia, and ISIS to renew attacks and then one person slips though our porous borders and drives a car with some toxins and explosives to a crowded hotel or a Mall in DC or Chicago or Boston or NYC and leaves it with the valet and then.....
Meanwhile the Saudis are taking aim at US oil and gas producers by flooding the market with oil. Storage capacity is almost maxed out, the price for oil has been crushed and why does that matter to us? Because the rebound in the economy has been driven by energy and if oil and gas prices keep falling, many of these new US companies who have invested billions in oil recovery technology with the belief that oil at $100 gives them a nice profit close their doors when oil remains under $80, which is now where it is at.
Of course Ebola could burn out, the market will rally, the Russians and Chinese will behave and we will all have a Merry Christmas.
And you wonder why we are up at 4am?
What is the most (in)famous espionage case prosecuted in the United States?
Before there was Jonathan Pollard and Robert Hanssen and Aldrich Ames there were Julius and Ethel Rosenberg.
To understand the Rosenberg case, you need to understand the times. At the end of World War Two the United States was the unquestioned super power as the only nation that had the atomic bomb. The Soviet Union probably had the most powerful army at the end of WWII, but the US had the bomb. That changed by 1950 when the FBI learned that the nuclear facilities at Los Alamos had been compromised.
This is from the FBI.gov website: