United States

Authored by Nomi Prins, author of "All The Presidents' Bankers", via NomiPrins.com,

“It’s not as if you have an Iranian alternative. And if you have no alternative, your best choice is to stop complaining about the Saudis.”

That’s a quote from a “senior Gulf Arab official” who spoke to The New York Times about Washington's position on the sectarian strife playing out across the Mid-East.

As a refresher, an already volatile situation took a decisive turn for the worst over the weekend when Saudi Arabia executed Sheikh Nimr al-Nimr, sparking outrage across the Shiite community.

A US special forces team on a counter-terrorism mission in Afghanistan have come under fire in Helmand province, sustaining casualties. A helicopter sent in to rescue the team, also came under attack and was immobilized, according to US officials. The BBC reports: Some 12,000 foreign soldiers are still deployed in Afghanistan to help local forces and some were deployed recently to tackle Taliban fighters in Helmand. ‘Not shot down’ Details of what happened in the incident, which took place near the town of Marjah on Tuesday, remain sketchy.

Back in October, Iran put the Obama administration in a tough spot. Tehran test-fired a next generation, surface-to-surface ballistic missile capable of carrying a nuclear warhead.

Yesterday JPM, which despite calling for a 2,200 year end price target, paradoxically warned that the regime of "buying dips" is over, and that "we take the view that equities are unlikely to perform well on a 12-24 month horizon" adding that "the regime of buying the dips might be over and selling any rallies might be the new one." So don't buy dips yet somehow the S&P will rise 150 points? Fair enough.