H/tip Barry Ritholtz
Bill thinks we're too quick to call things bubble these days. "All these unusual perturbations are a function of the Fed and its easy money policies... The names that are goofy are really goofy... but it's not anything to be terribly alarmed about, but it is disturbing.... The problem is that the Fed has learned nothing from its reckless policies over the last 15 or 20 years."
End of Q2: "I don't think there's a bubble to pop... I don't think the Fed will have any easy time ending QE2 and not doing something else, because the unemployment problem is not going to go away, and the Fed's going to try to keep printing money and they're going to ignore inflation, is what I think."