NEW YORK ( TheStreet) -- The new millennium is now a teenager and the beginning of the sixth year of what I call the great credit crunch. This has been an environment of record low U.S. Treasury yields, bubbles in gold and crude oil, a wide trading range for the dollar, and extreme downside for stocks followed by huge upside.In attempting to characterize the investment climate since 2007 I studied some of the hidden meanings of "The Wizard of Oz" the story written by L. Frank Baum in 1900. We have all seen the movie version released on August 14, 1939. One interpretation is that Emerald City represented the Federal Reserve System. This means that Fed Chief Bernanke is the modern day Wizard of Oz.
The Stock Market Is a Risky Asset Class in 2013
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