It is comical that very, very few commentators mention that the 10-year had a record low of 1.0% ten years ago and we have now have had a 10-year of 0.25% for five years continuously which is not only unprecedented, but an absolute recipe for generating a stock market bubble. Anyone who thinks they can apply the principles of long-term investing to the current situation is sadly deceiving themselves. After the 10-year bond returns to 2% or 3%, not to mention 5%, where it was when the DJIA first broke 2,000 in January of 1987, and only then, can we talk about real recovery. What we are seeing now is a very slow moving long-term bubble, so slow moving that many are not even aware what is taking place. You have been warned.