whats next for massive liquidity pumping up asset prices? given demand from growing economies i think we're just starting to see a bubble forming in commodities. maybe we'll have a drop from current highs over the spring and then a quick jump during the summer forming a peak in commodities. so just when the fed thinks inflation will start to drop from a declining economy, inflation will just keep going up. food prices are already rising and this will pinch the consumer even more. there should be more waves of write downs at banks helping to keep fear in the markets. still, large amounts of liquidity still sloshing around will find a home in real assets. this is just looking bad to me. the next year is going to a huge unwinding of the 2 decade long combination of unsustainable money supply growth and exported inflation.