The Canadian dollar has recovered through the end of this past week, but the single currency has nonetheless been pushed to the brink of a major reversal.

What might Bernanke's speech have said or implied that triggered the market response that we have witnessed so far today?

Investors are waking up. They are wiping the sleep from their eyes. Behold! No recovery.

Eventually, investors are going to realize that the discussion of a "recovery" is nonsense. The economy can never recover the pace and frenzy of the bubble years.

The Fed has already said it will leave its key interest rate at a very low level for a very long time. The US Treasury has already announced a budget with more than $1 trillion of fiscal stimulus in it.

Mike Paulenoff believes that the global equity markets are in a leadership transition from west to east, or from the U.S. to China.

In the next few years, US stocks are not likely to pay off. The stock market entered a bear phase in January 2000. Since then, stock market investors have made some money and lost some money. Some are ahead a little. Some are behind. Most have gotten nowhere.

Remember all the bulls and cheerleaders late last year and into this one talking about a V-shaped recovery?

No matter how much we love our setups we should never assume that they will last in perpetuity.

The Berlin government announced the best results since the wall fell in 1989. From the first quarter to the second one the republic's GDP rose 2.2 percent.