Basically he's saying it's just another bubble being created by the institutional investors who are buying-and-holding (not the traditional speculators who buy-and-sell and provide a very necessary role by creating market liquidity).
Whether it's tulips in the 17th century or tech stocks in 1999, those never end well.
I did read elsewhere a lot of this money is from the same investors who used to be funding the mortgage market and where driving the supply of dollars that created the lax lending standards, inflating the value of housing over the last number of years.
There was a time people...built things. Imagine what a few hundred billion dollars invested in nuclear power plants, in better freight railways, etc would do to help create good jobs, keep money in the U.S., and improve the fundamentals of the economy. Between legal / regulatory risk scaring some investors, and political ideology others (I'd bet many of the public pension funds and university endowments would be as loathe to invest in a nuke plant as they were in South Africa or are in companies that do business in Darfur...), there's a lot of investors in the world essentially hoarding money and not doing anything useful with it.
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Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
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