Ahhh, bubbles. Pretty, pretty bubbles.

Here's the chart of Crocs - the company that makes those horrific, easy-to-knock-off rubber shoe things

Looks like the chart for that investment condo in Miami. Or pets.com. Or tulip bulbs in Holland. I could go on.

Fads are fun. Until they aren't.

Meanwhile, what are you all doing in today's crazy market - buy, sell, hold or just staying the heck away?

So now we have the Art Bubble. When is ArtPANIC? And is EVERYTHING going to bubble now?

Man, these bubbles are EVERYWHERE.

Bubble in rice
Bubble in oil
Bubble in houses
Bubble in gold
Bubble in Euros
Bubble in art

I could go on and on...

These past few years have seen so many mis-allocations of resources, so many bubbles, and now such a massive wall of money worldwide chasing too few goods, combined with a collapse in the US dollar that makes dollar-denominated things skyrocket in price.

So when will it end? Or will it end? The housing bubble is over, but the other ones go on and on and on.

These past few days saw Roman Abramovich, one of the Russian oil guys (who also owns last night's loser Chelsea), drop $120 million on a couple of paintings, even though he's never been a collector in the past. Hmmm... And we also saw the Rothko painting above go for... wait for it... $50 million. Not bad for a few minutes of work I'd say.

Inflation folks is gonna get so out of control now that it'll make your head spin. It's not just rice, it's not just oil, it's not just art, it's... EVERYTHING. You've got a couple billion people in China and India who want basic things like cars and TV's and meat, and that changes everything. You've got countries and people printing money now with $135/bbl oil. And you've got a world who can't produce enough goods (or food) to meet demand.

So everything bubbles. Well, almost everything. Everything except for houses of course.

Get some popcorn and sit back. But you might want to stock up before the price goes up again.