The Fed has created a bubble in everything - stocks in emerging market, real estate everywhere in the world, commodities, art. The only asset class that is down is the U.S. dollar.
It is quite likely that the current synchronized global economic boom and the universal, all-encompassing asset bubble will lead to a colossal bust. [With commodity prices so inflated, I expect an] increase in international tensions [over resources].
~ Marc Faber, "Even the pros may be stuffing the mattresses," ChicagoTribune.com, July 29, 2008, by Gail Marks Jarvis