Need the bond bubble to burst
As long as enough fools are willing to buy bonds, the housing and stock markets are reinflatable. That's why I'm saying we're at a bifurcation point. We can't crash equities unless housing goes lower, and we can't make it go lower unless some of the fools start questioning the wisdom of lending dollars to Sammie at negative real interest rates. Too bad we have so many fools, especially abroad.