Overnight markets were a sea of red, thanks to the latest developments in the Middle East, this being the closest the world has come to a full-on war between the Sunnis and Shiites. I am referring to the current battle underway between the Saudis and Shia Houthi rebels in Yemen, the latter being a proxy state for Iran. In essence, what we are seeing is the so-called leaders of the Sunnis and Shiites (i.e., Saudi Arabia and Iran, respectively) about as close to open warfare as they ever have been.
Whether this will spiral out of control right here and now I can’t say, but eventually I expect it will escalate because these two sects have been trying to kill each other for well over a thousand years, with plenty of other countries — not the least of which being the U.S. — caught in the crossfire. Whatever level of danger there had previously been in the Middle East, it is now higher, until such time (if ever) one side gets the upper hand.
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