A new bubble will replace the old one.

The bubbles, not my bubbles, but the financial bubbles.

NEW HAVEN You might think that we have been living in a post bubble world since the collapse in 2006 of the biggest ever worldwide real estate bubble and the end of a major worldwide stock market bubble the following year. But talk of bubbles keeps reappearing new or continuing housing bubbles in many countries, a new global stock market bubble, a long term bond market bubble in the United States and other countries, an oil price bubble, a gold bubble, and so on.

Angel Foam.

With lots of foam.

We've got bubbles going up there, then suds at the top with lumpy tiles.

Bubble Spotting

Bubble Trouble

Bubbles Forever

Bubbles in the Broth

What a nice head of foam.

We had the bursting of the tech bubble.

The Trouble With Financial Bubbles

The Great Emerging Market Bubble

America s Education Bubble

The Gold Bubble and the Gold Bugs

Foams end of life

Since their collapse in 2007, US households have understandably become fixated on repairing the damage. That means paying down debt and rebuilding savings, leaving consumer demand mired in protracted weakness.

But it was a bubble and a highly leveraged one at that. While periodic bubbles may be unavoidable, and no bubble is without consequences, a highly leveraged bubble tends to cause far more damage, owing to its impact on the real economy and the duration of the deleveraging process.

Letting China s Bubble Burst

Angel Foam never heard of it.

Israel s Election in a Bubble

Foams Technical Options Committee

And there he was, his face all over soap.

Angel Foam guarantees satisfaction.

How much Angel Foam did you peddle?

They put them in foam, little containers.

Why Small Booms Cause Big Busts

Maybe the word bubble is used too carelessly.

Foam end of useful life issues

Yes, it's beautiful with the foam on the crests of the waves.

Speculative bubbles are the visible manifestation of that temptation. As the bubbles burst and they always do false prosperity is exposed and the defensive tactics of market manipulation become both urgent and seemingly logical.

They're now putting bells in the bubbles.

When both bubbles burst first housing, and then credit asset dependent US consumers were exposed to the American strain of the Japanese disease first diagnosed by Nomura economist Richard Koo.

NEW YORK I have long been forecasting that it was only a matter of time before America s housing bubble which began in the early days of this decade, supported by a flood of liquidity and lax regulation would pop. The longer the bubble expanded, the larger the explosion and the greater (and more global) the resulting downturn would be.ampnbsp

And, for daring investors, it is not enough to find a bubble to pile into. They must also try to determine when to cash out and put their money elsewhere.

This is Jesse, and he's squeezing a foam toy.

Well, at least you made a 10spot on Angel Foam.

Frei Otto was starting to use foam bubble diagrams and foam bubble models to generate his Mannheim Concert Hall.

But if financial markets are already frothy now, consider how frothy they will be in 2015, when the Fed starts tightening, and in 2017 (if not later), when the Fed finishes tightening? Last time, interest rates were too low for too long (2001 2004), and the subsequent rate normalization was too slow, inflating huge bubbles in credit, housing, and equity markets.

There are times when being proven right brings no pleasure. For several years, I argued that America s economy was being supported by a housing bubble that had replaced the stock market bubble of the 1990 s.

Another downside risk is that the dollar funded carry trade may unravel, crashing the global asset bubble that it, together with the wave of monetary liquidity, has caused. And, since the carry trade and the wave of liquidity are causing a global asset bubble, some of gold s recent rise is also bubble driven, with herding behavior and momentum trading by investors pushing gold higher and higher.

(e) Developing new materials and advanced technologies for their production, including foam aluminium and new ceramic materials.

Bottom right depicts our universe, which on the horizon is not beyond that, but even that is just one bubble, as it were, in some vaster reality.

That was a missile foam launcher that didn't get sold.