I don't think I'm smart enough to understand the game that some of these people are playing. I'm pretty sure it is at a higher level than the way I see things.

But my sense of it is that there really isn't much of a risk of contagion at all. The only way it would happen is if everyone got irrationally worried. And, honestly, it seems like some of these people are trying to stoke that exact fear.

I wonder if this is all a ploy to corner the Fed into not raising rates next week. Like, I think a lot of people benefit from the easy money we've had and they want to get back to it.

Having said that, I'll repeat what I said above: I'm not smart enough to really understand what is going on.