FourBrane

Why Did the Market Act Like Bernanke Said Something New?

The headline writers ascribe selloffs variously to worries about inflation, interest, etc. The journalists (whose portfolios--if they even have them--probably mostly have four digit balances) have to come up with something to say. They can't just write, "The market dropped. We don't know why."
In this case, I think the market had run up too far, too fast, and everyone knows that the market will sell off in June and July as people leave for vacations. We were all crowded out on the shaky branch with lots of fast profits and all us monkeys decided to jump at the same time.

As for the silliness about immigration, ...what can one say to a stupid theory like that? There are twelve million reasons that's the dumbest thing I've heard.