The! Biggest! News! of! the! Day! - Not Thailand's Bounce Back, Redback's Buyout or Earnings from FedEx

Here are some of the contenders for today's biggest...news...of...the...day...

• A bounce back in Thailand's stock market as equities were exempted from rules to reign in the baht...
• A merger deal between LM Ericsson (ERIC) and Redback Networks (RBAK) - Ericsson will pay roughly $25 per share for Redback...
• A new payment service by Google (GOOG) that competes with eBay's (EBAY) service, PayPal...
• An earnings report from Palm Inc. (PALM)...
• An earnings report from FedEx Corp (FDX) that appear to be pressuring the stock in pre-open activity...
• Some interesting and worthwhile comments from Minyanville's Todd Harrison...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Marijuana top U.S. cash crop, policy analyst says...according to the article "growers produce nearly $35 billion worth of marijuana annually, making the illegal drug the country's largest cash crop, bigger than corn and wheat combined" which makes it a "serious part of the economy"...perhaps this needs to be on the FOMC's agenda?...The next meeting is scheduled for January 30 and 31...