The problem, ... is that the markets have fallen sharply and they've fallen because all these financial shenanigans are coming unraveled.

It's like an old Jonathan Winters movie - 'The Russians aren't coming! The Russians aren't coming.' And they'll probably never be here.

The American consumer is like that bad guy in a zombie movie; shoot him; stab him. He keeps coming forward. But in the case of the consumer, it's more like: depress his wage, make him unemployed, ruin his confidence make no job growth, lower his savings rate -- none of it matters, he or she just keeps on racking up those charges.

Upon graduation, believe it or not, I had no job. I had no interviews. I had no prospects. I had no worries. What I did have, I had passion. I had enormous passion. I had passion for financial markets. I had fallen in love with financial markets.

Remember that all financial markets are filled with good but not necessarily innocent people looking after their own self-interests before they look after yours.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.