Higher interest rates are not to be feared -- provided the Fed really delivers them, and Bush dodges the political fallout.

Bonds face the reality of the awakening of a long-slumbering Fed.

So where's the "buyable dip"? Maybe this is it.

Everyone seems to know the Fed is raising rates. But does the Fed?

Bonds lose, stocks win.

Does the drop in gold mean an end to inflationary risk? Not by a long shot.

Tightening cycles can be good for stocks -- if the Fed gets it right for a change.

With the world supposedly falling apart, why isn't the market more scared?

This isn't the 1970s -- today's oil prices don't have to be an obstacle to expansion.