Clearly today's action was only a down payment on a return to reality that the markets have been seeking since the Bubbles of 1999.
Yields are still too low for stocks...and interest rates are finally competitive at the banks in the form of CDs!
The notion that "it" always goes up...is now..it always goes side ways.
Even so, it's hard to imagine the US Economy without a Bubble of some kind...
Asset Bubbles have defined the American economy for so long...the Greenspan years were literally one bubble after another...for decades.
Without Bubbles of some kind...the Dow could be selling at 8000 or less...before the end of this year.
