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Then Santelli pulls out a Pavlov reference suggesting that the Fed has in fact conditioned retail investors to be lazy prompting Fisher to point out the irony in the fact that global financial markets are depending on a “diminutive woman” (Yellen) to play Atlas. “What worries me is that the people that watch this show are completely dependent on the Fed — look at the volatility. I could see a correction taking place of substantial magnitude.”
Of course this is all the market's fault and not the Fed's for ballooning their balance sheet into the trillions and effectively daring investors not to chase a central bank-underwritten rally in risk assets and so ultimately, Fisher thinks the “people who watch” CNBC need to stop being so complacent …. http://www.zerohedge.com