I came across this article today. With regard to the effects of government action, it is spot on.
http://blogs.marketwatch.com/cody/2009/11/05/a-couple-ideas-on-how-to-trade-the-money-supply-bubble/
“Even scarier – if the artificially low 2-3% Fed Funds rates and no-doc jumbo subprime macchiato loans from the last ten years caused the great housing bubble, and if the artificially low 2-3% Fed Funds rates caused the great dot com bubble….aren’t those bubbles going to look like tiny air pockets when we get done with whatever bubbles are caused by the current 0% Fed Funds rates, $8,000 welfare checks for home buyers, FHA loans, trillion dollar TARP bailout cash infusions, $12 trillion in lending and corporate debt guarantees and all the other crap that’s not even being measured in that terrifying money supply bubble chart I posted above.”
