Stocks Down Again

The Fed appears to be trying to pop the bond and stock bubbles by talking us off the ledge, without doing any harm to the broader economy. I have my doubts, but will be waiting to see the impact. Dow was down another 100 points a few minutes ago.

My hunch is that this will only cause the economy to revert back to its downward path. As interest rates rise, it will hurt consumers, corporate profits, and especially the housing sector. It won't take long to manifest itself, most likely by the end of the summer.