We are on the brink ... and anyone who thinks the political situation is manageable at this rate of economic deterioration is going to be shocked.

I think the whole liability situation becomes manageable for Merck.

While it remains manageable, it can be argued that it is the rate at which debt levels are growing that may cause no further stimulus from the central bank.

We basically have a situation with two classes here: a sort of political and economic class, intermingling with each other at their megabucks-level inaugural galas, and the average citizens, who at best get to watch the inaugural from hundreds of yards away.

The element of fear is exaggerated ... and I think that point is going to become clearer if the government fails to sort out the economy in the next few months.

A further deterioration of the situation in Nigeria, or escalation of nuclear brinkmanship with the Iranians, could push the (New York) price of crude further to 70 dollars.