Wall Street R.I.P——The Bubble Is Dying At The Zero Bound by David Stockman • May 24, 2015 If any evidence was needed that the market is dying at the zero bound, it came in yesterday’s violent 15-minute rip when the algos read the Fed’s release to mean there will be no rate hike in June. It put you in mind of monetary rigor mortis——the last spasm of something that’s already dead but doesn’t know it. Certainly the sell-side talking heads are clueless in their utterly mendacious patter that there is no bubble in stocks. Why, valuations are are in-line with historic multiples, we are told, and, besides, the Fed will keep interest rates low for long. That kind of assurance is at once fatuous and reckless. With the earliest possible “lift-off” date now moved to September, money market interest rates will have been pinned to the zero bound for 81 months running. Do these lemmings actually think this can go on much longer—-to say 90 or 100 months—- without signaling a complete capitulation of the Fed to the robo-traders? read more http://davidstockmanscontracorner.com/wall-street-r-i-p-the-bubble-is-dying-at-the-zero-bound/