100 shoes dropping

After the Bear Stearns bailout the market has been waiting for the "next shoe to drop". Here are many more shoes that could drop. (Charles Hugh Smith)

As John Hussman says in this article, it's not surprising that there are a lot of shoes ready to drop.

If the market was “certain to crash” in the event that Bear Stearns failed, then the market is certain to crash anyway, because Bear Stearns wasn't the last shoe to drop – it was one of the first. Unfortunately, we're standing in a shoe store.

Are oil prices the next bubble that's ready to pop?

(Both of these links are courtesy of Matteo at Cartago Delenda Est, which is good reading.)