Bond Market's Memo to Fed: This Is a Blow-Up

Last week's article Bernanke's Misfired Shot Heard 'Round the World generated a lot of attention when the FT's Izabella Kaminska referenced my market theory on the Alphaville blog.  I appreciate all the comments and feedback and I am glad to see my analysis of the situation is being debated.  It's not that I believe I have the answer to what is driving market volatility; I am simply trying to offer a potential scenario that the consensus (including the Fed) isn't considering.  Though the fact that my hypothesis has gained traction is enough to tell me no one really knows for sure exactly what's going on.