From an academic

Former Federal Reserve Governor Frederic Mishkin, a professor at Columbia Business School, said it was "a huge mistake for the government to think it knows the best size of financial institutions." At the same time, he acknowledged that financial institutions are encouraged to get too big "because they are likely to be bailed out."

The oceans of global liquidity are making their way to the usual places.

From the Fed

At least until before the financial crisis.

I have made the case on a number of occasions that the Canadian real estate market, or at least parts of it, have been in a bubble.  As someone who grew up in Saskatchewan, it was mind-boggling to me to see the prices of homes in Saskatoon - a city surrounded by prairie with -40C temperatures in the winter - double in two years such that Saskatoon became a

From the Cato Institute

Read it.

I have been marveling over the past few months how nothing has really changed. 

The government continues to perpetuate the Asset Bubble Economy while doing little to change the underlying causes of the financial crisis.

When people are lining up overnight to put down chunks of money to buy a condo that does not yet exist - as they were in Miami as well as other places - you should be running away as fast as you can.

Condos on which they made deposits of up to $1,000 a square foot in 2006 are now selling for $125 to $350 a foot, said Jack McCable, a real estate consultant in Deerfield Beach, Florida.

From the conversations I have had with investment professionals over the past while, it is my belief that the biggest surprise in the market would be if economic growth was strong and sustainable for some time. 

It would surprise the heck out of me.  Though I believe economic growth will beat estimates over the next few quarters as inventories are rebuilt and companies re-hire as demand picks up, I expect growth to be substandard for several years.