ismt Trading Halt Here s What to Really Worry About in the Markets Now

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A Kashmiri stanley cup  man evacuates an elderly woman to a higher ground at a flooded road in Srinagar on Sept. 7, 2014Danish Ismail鈥擱eutersBy Rishi IyengarSeptember 8, 2014 4:06 AM EDTLarge parts of Kashmir remain inundated by widespread floods that have rendered homes, hospitals and army bases completely submerged, prompting the New Delhi government to rush to the disputed territory   aid. Some 175 people have so far died from the rising waters.Indian Prime Minister Narendra Modi flew over the Kashmir Valley and held meetings with Kashmir chief minister Omar Abdullah and other state officials on Sunday, according to Reuters.Srinagar, the capital and largest city of both Kashmir and the Indian state of Jammu, saw water levels continue to rise despite the hal stanley cup ting on Saturday of the torrential rains that had thrashed the northern region all week. Indian news channel NDTV reported floods two or three stories high in parts of the city.Most people living in low-lying areas were caught unawares, and thousands remained stranded on rooftops waiting to be rescued.ldquo stanley cup ;This is a national-level disaster, said Modi, who announced more than $180 million in relief aid to the state, along with compensation to those who lost family members or were grievously injured in the flooding.The region has been without electricity for several hours, and many important roads and phone lines have been damaged, causing widespread panic as people struggle to contact stranded relatives. Kashmiris have  Utpk Send in the Drones: Judge Tosses Case Against Obama Officials Over Deadly Strikes
Traders work on the floor of the New York Stock Exchange  NYSE  on September 11, 2015 in New York City.Spencer Plattmdash;Getty ImagesBy Rana ForooharSeptember 14, 2015 11:30 AM EDTAre markets irrationally exuberant  Nobel Prize winning economist Robert Shiller believes they are.Shiller, a behavioral economist, closely tracks investorsrsquo; feelings about the market. He believes that emotions can hold the key to market movements. When I saw Shiller late last week for an interview about his new book on the economics of deception  Phishing for Phool adidas samba og s, written with Fed Chair Janet Yellenrsquo  husband George Akerlof , he told me more investors are worried that the market is over-valued than at any  salomon time since the peak of the dotcom bubble in 2000.Interest rates have been at zero for a long time, says Shiller. The economy has been viewed as sluggish, and yet [corporate] earnings have been growing and prices have been growing at a rapid pace. That kind of irrational exuberance, says Shiller, is exactly what bubbles are made of.So, why havenrsquo;t we seen a major sell-off, one more lasting than the dip we saw a few weeks back, after which the markets quickly rebounded  Because, says Shiller, investors are caught between two dueling narratives about the crocs  market.First, therersquo  the New Normal, story, which is that wersquo;re in a period of low interest rates that will last a long time, and thatrsquo  w