Are you disagreeing? I wasn't saying that the current situation is or isn't a bubble (I'll only know that in retrospect... :]); rather, I was saying that bubble

Are you disagreeing? I wasn't saying that the current situation is or isn't a bubble (I'll only know that in retrospect... :]); rather, I was saying that bubbles can form in markets other than stock markets. One of the most famous was the tulip bubble, in which the involvement of stock markets lagged the formation of the bubble by some time.