Long-term rates have again touched the lows of the year. To make sense of that news and a great deal else going by this week, step back -- especially from the awful sights on your screens. Way back. We try to be rational in markets, at the Fed, in government and at war, and in that effort we forget the power of Dame Fortune. Consider the odds against the loss of two 777s by one national airline in six months, neither from flight risks. Czar Vladimir's dirty little game of empire has suddenly gone counterproductive. Hamas' 1,500 rockets have again goaded Israel into action, which will result in more Hamas. This month 100 years ago, Austria-Hungary declared war on Serbia. Russia mobilized. Three days later Germany declared war on Russia, then on France. Although that h...
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