The growing roar of 'the establishment' crying for help from The Fed should make investors nervous. While your friendly local asset-getherer and TV-talking-head will proclaim how a rate-hike is so positive for the economy and stocks, we wonder why it is that The IMF, The World Bank, Larry Summers (twice), Goldman Sachs, China (twice), and now no lessor nobel-winner than Paul Krugman has demanded that The Fed not hike rates for fear of  - generally speaking - "panic and turmoil," however, as Krugman notes, "I think it would be a terrible mistake to move. But I'm not confident that they won't make a mistake."

The IMF panics...

The Federal Reserve should hold off from raising interest rates until the first half of 2016, the International Monetary Fund said as it cut its U.S. growth forecast for the second time in three months.

The lender also said that the dollar was "moderately overvalued" and a further marked appreciation would be "harmful," in a statement released in Washington on Thursday on its annual checkup of the U.S. economy.