i couldn't say it better than don luskin. some point, you know, there is a theme that's building that the government is just going to go after all its enemies. we've got to be mindful of that, as well. it seems like whether you're a 501(c)(4) or somebody else who has politics or sheldon aidleson in las vegas, seems like there is a lot of targets. maybe it's a popular news story and it's outrageous. >> no, you're right. there is government overreach going on here. there is bureaucratic overreach going on. a great point. all right, don luskin, let's get back to stocks. look, over the last year, you know this. ten-year treasury rates have gone from about -- i'm sorry, 1.5% to 220. i'm going call it 220 today. that's supposed to be bad for stocks, rising interest rates. on the other hand, stocks have done fabulously, up 25, 26%. so what's happened here? >> what's happened here is that same thing every time the fed takes on a large-scale asset purchase program. they say they're doing it at the lower interest rates and raise intere

let's bring in our pal don luskin, trend macro chief investment officer. hello, don. let me ask you this. first point. how scared is the market of the end of the bond purchases? which really, two things today. you heard rick in michigan. the purchases are going to slow down in the middle of the year and by the middle of next year they're going to be over. is that what knocked the market down 200 points? is that what's worrying the market? >> i guess so, larry. stocks are 2% or 3% off all-time highs. i think this is a bit of a tempest in a teapot. i strongly disagree with something you said when you were talking to rick. nothing here is a surprise. in the december 2012 fomc meeting when they announced the evans rule for the first time, in that same paragraph they said that the evans rule threshold of 6 1/2% would become relevant, a quote unquote considerable period after asset purchases have stopped. all you have to do is draw a line on the unemployment rate and you will see that you hit 6 1/2% in november of 2014. i've said this on the show before. you just have to li