Radiation leaks. Bloodshed in the Middle East. The possibility of western airstrikes in an oil-producing nation. This is not the kind of news that cheers consumers or boosts confidence in a halting economic recovery.
So far, 2011 has been a year of unforeseen shocks and frayed nerves. Uprisings in the Middle East caught investors by surprise and rattled the oil markets, just as the global economy seemed to be getting back on its feet following the Great Recession. Then the Japanese earthquake and tsunami derailed the world's third-largest economy. And scary headlines about the unthinkable disaster at Japan's Fukushima nuclear facility have been a stunning reminder that things can still go terribly wrong.
As long as the Japanese disaster doesn't get much worse and manufacturers adjust to supply-chain disruptions, the economic shock ought to stay mostly contained in Japan. A huge rebuilding effort may even boost Japan's economy later this
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