This is getting ridiculous. I wish Bernanke would just do his job and keep his mouth shut about rate hikes. This guy needs to keep of CNBC. I guess he hasn't learned yet that what he says on talk shows negatively impacts those of us with stock investments. Of course the MSM will make the most of the Dow dipping below 11,000, even as they ignored the big run up last month and in April.
It better for the markets if the shake out comes earlier rather than later. Real estate is already shaking out: Like a huge tanker on the high seas running at 20 knots, it takes time to come to a full stop. On the other hand, stock markets react instantly to bad news. Very BAD news travels instantly in cyberspace. I posted a link yesterday to a report about a physicist who predicted home value will fall dramatically. All the way back to 2001 - 2002 values. This cycle will take about ten years. The smart money has already moved on. Get ready for the ride of the Century.