A financial planner based in west-central Iowa predicts a long-term upswing in the markets as a result of this weekend’s capture of former Iraqi dictator Saddam Hussein. Jim Tausz is president of Bradford Financial Center in Clarion. Asian markets opened sharply higher this morning, and the news of Saddam’s capture is credited with boosting the value of the dollar and causing the price of bonds, oil and gold to fall. However, the Dow and NASDAQ both closed down slightly this afternoon. Tausz thinks U.S. and European markets will see very positive reaction, longterm. He says the arrest of Saddam Hussein is going to be “super, super good” for markets, the economy and also the war on terror. Tausz expects “very, very positive response” for months to come and pictures the news helping markets on into 2004. Tausz says there will be ups and downs like the market always has, but he thinks the dictator’s arrest is going to mean positive things for markets worldwide. Tausz says Iraq, a major oil-producing nation, will start sending more crude oil to world markets and that’ll benefit the economies of western nations. He predicts that oil prices will “take a tumble.” He says alot of Iraqi oil goes to European countries on the mainland, like France, and he sees the increase in their oil supply improving things, and he says it’ll also help Russia where a lot of U.S. companies are currently working to improve Russia’s energy situation. Tausz is president of Bradford Financial, which offers retirement and investment planning in several states and is based in Clarion, Iowa.
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