FRIDAY 11/28/14; Oil Prices Collapse; Japan 2-Year Yield Goes Negative; SSEC Another 3-Year Record High; Russian Ruble Collapses; Euro Zone Inflation Data; European Bond Yields Printing Record Lows; German Bund 0.695%; US Markets Reopen for Half-Day; Black Friday Shopping Day; Energy and Oil Sectors in Bear Markets; SPX and TRAN All-Time Record Highs; COMPQ New 14-1/2 Year Record High; EOM

The NIKK is up +0.7% in the early going. Japan’s consumer price inflation continues to slow placing the 2% BOJ inflation goal by 2015 into further jeopardy. The Japanese consumer does not show any signs of increased spending. Japan JGB 10-year yield drops to 0.417%. Japan’s 2-year note yield drops under zero to -0.005% for the first time in history. Investors are paying the government to hold their money. The BOJ policies are creating dysfunction in the 











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on pace with last year not showing an increase. The lower class consumers are cautiously buying. Video games, televisions, electronics, home wares, vacuums, mixers and blenders and coffee makers are all big sellers.

Egypt clamps down on anti-government protestors. Cairo is in lock down with tanks patrolling city streets. Early reports say two senior military officers and four protestors are killed. Over 100 are arrested. The ongoing social unrest has destroyed the tourism industry and the violence is increasing along the Egypt-Israel and Egypt-Saudi borders.

Fierce fighting continues between the ISIS radicals and Kurdish forces supported by the US in the Syria-Turkey border town of Kobani. The city is being reduced to rubble; there will be nothing of value remaining for the victor. The US air strikes in Syria are aiding Asaad which creates new enemies against America. The US has an incoherent foreign policy that avoids taking sides and only serves to alienate Middle East nations including our Israeli friends. The United States foreign policy is crisis management reacting to events rather than providing a cohesive proactive plan. The rampant Middle East and northern Africa regional wars may explode into a modern day Holy War at any time.