midwest bill’s comment made me think of the phrase “money bubble”. I hadn’t seen it around yet, but didn’t really think we’d get the chance to start it.
He was saying this 2 1/2 years ago. But it’s not really a bubble to me until Instapundit confirms it.
World's Only Rational Man 
Japan’s bubble economy from the 90s comes to mind, too. You’d think people had learned from it.
Oh wait… since when do we learn anything from history… My bad!