Thu 2/23/12 4:28 PM – Stocks, Oil Finish Up

Once again US stocks shrugged off an early selloff that was probably partly due to European selling as a follow through to lower markets today in Europe. US stocks were up about half a percent but small stocks tripled that today.

Oil was up nearly 2% for the day. The likely culprits continue to be mainly continuing tensions over Syria and Iran. Many people feel that a war between Iran and Israel is a near certainty this year, probably in the next few weeks or months. I am one of those.

Israel believes it cannot allow a regime that is one of the primary sponsors of terrorism around the world and a very vocal foe of Israel to have a nuclear bomb. To Israel, it is a matter of national survival. While Iran’s missile capability is poor such a bomb need not be delivered on a missile.

For Iran, a nuclear weapon is the key to being the greatest power in the Middle East and a huge bargaining chip with the US and Israel. Russia and China’s support for Iran and Syria raises the stakes.

If you know your Bible prophecy you know that Ezekiel 37-39 describes a tremendous war between Israel and most of the Muslim countries which it named by tribe 700+ years before Islam began. Of course, it sets no date at all but the fact that it names the areas across northern Africa and the Middle East and also the Muslim former satellites before they were unified by Islam is remarkable.