Back by popular demand .....

As we continue to wade through the muck, this caught my eye and deserves attention and thought.

A quote from Merrill Lynch economist David Rosenberg about the rising threat of global trade protectionism:

"The Financial Times weighs in on the rising threat of global trade protectionism in today's Lex Column on page 14 ("Economic Patriotism"). The FT points out that the stimulus packages of many countries include "buy local" provisions. At home, there is a proposed inclusion of a 'Buy American' provision in the economic recovery package and this could set off trade retaliation from importers of US goods. Here is what the FT had to say, 'It was trade protectionism that made the 1930s Depression "Great". Congress would do well to understand that it is in everyone's interest to keep trade open today.'"


More to come this week. In the words of Art Cashin, "something is building here. Be nimble, very nimble."



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