THE UKRAINE ANXIETY (March 18, 2014)

For my sins, I check the stockmarkets several times a day. Not that I have anything invested, I hasten to add. All I am doing is watching the reactions of investors to world events. Relatively well informed, they can tell one a good deal about world affairs. I focus on stockmarket indices and currency exchanges, but I occasionally look at commodities and bonds, as well. All together, they map the sentiments of millions of people with means and commensurate worries. Anyhow, it is amazing to watch the dance of numbers over the last few weeks. The Ukraine anxiety is driving them crazy. Up and down sharply. There are peaks and troughs galore. And many of them are quite surprising. For instance, there was much optimism after the Crimean referendum last Sunday, as though the turmoil was finally over. Now there is much pessimism after Putin’s endorsement of Crimea’s recognition by Russia. To put it mildly, the investors are pretty confused. Which suggests that common folks are even more confused about the goings on. As for me, the only thing I am not confused about is confusion all around me. The Ukraine anxiety in a nutshell.