The Fed's Williams warns that they "don't want there to be excesses in financial markets... "
Two quick things...
The market has almost never been this expensive...
As Peter Boockvar warns: "Almost there. S&P 500 price to sales ratio is just 4% from March 2000 peak."

http://www.zerohedge.com/news/2017-10-11/black-swan-anxiety-has-never-been-higher

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.