Investors in Denial Over Coming Fed Rate Hikes

Judgment Day is coming.

No, I'm not talking about the rapture. And no, I'm not talking about James Cameron's vision of a Terminator-style nuclear holocaust. I'm talking about -- brace yourself -- a rise in interest rates from the Federal Reserve, something that hasn't happened since 2006, when Justin Timberlake was bringing sexy back on the airwaves, Apple (APPL) didn't yet sell an iPhone and President George W. Bush suffered a "thumpin'" in the mid-term elections as Democrats retook the House and Senate.

Ancient history, I know.

That day is coming as the U.S. economy, five years into its recovery, finally enjoys some robust job creation and seems to be on the cusp of real wage gains. As a result, the Fed is preparing to end its third iteration of bond-buying stimulus next month and is on track to raise rates sometime in early-to-mid 2015.

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