THE effect of free money is remarkable. A year ago investors were panicking and there was talk of another Depression. Now the MSCI world index of global share prices is more than 70% higher than its low in March 2009. That’s largely thanks to interest rates of 1% or less in America, Japan, Britain and the euro zone, which have persuaded investors to take their money out of cash and to buy risky assets.Markets: Bubble warning | The Economist
Finally the Economist see a bubble and sees danger in the collapse of the bubble. The economist didn't seem to see the danger in the credit collapse, didn't spend much time on the housing boom, didn't worry about the bubble's caused by deregulation or cuts on high level taxes. But allow the government to run stimulus packages and the Tories at the world's most consistently wrong magazine shit their pants.
Given the Economists predictions on Bush, the Iraq War, Bush and the peace process, the California economic boom for 1998 and essentially everything they have written over the past 10 years, I would not lose sleep.