. >> we have neal wilson of ejf capital with us. neal, thank you so much for being here.ook, just begin by giving us context here. how do you explain monday's market meltdown and the tepid recovery across asia and into the european trading day. good morning, sir. >> good morning. thank you very much for having me on. i think you have to look at it as immediate cause and underlining cause. the immediate cause was the yen carry trade and the manufacturing issue with berkshire selling apple. the underlining cause is more important to focus on. they really, in my view, and i have been saying this the last two or three months, the fed has really kept rates for too high for too long and they're in the danger zone of breaking something. what do i mean by that? it would come in two flavors. it would be a problem with the fed auction this week of three, five or ten years or a leveraged situation of a blowup somewhere. a hedge fund or highly levered player. i think the underlining causes are also the consumer in america is really, especially at the low-income level, is having real