Everybody remembers the old Hasbro TV commercial that “weebles wobble, but they don’t fall down.”  That’s how I felt when I watched stock markets around the world this morning.  Virtually every market in every nation is down and down sharply.  Of course, this is a reaction to the Russian invasion of Crimea over the weekend.

Asia was down 1.0-1.5 percent overnight.  Europe is down 1.5-2.0 percent.  Futures indicate the U.S. markets will drop about a percentage point today.

However, the Russian stock market is already down 13% in one day.  Capital is racing to escape Russia, and their currency is plunging.  Putin is already paying a price.  Who needs diplomacy anyway?  I suspect Putin has his arms around a tar-baby, that will be difficult to dis-engage.

The world is not ending, and it is a good time to pick up some stocks cheap . . . before they stop wobbling!