Yesterday brought news that the Americans were on a house-buying spree in April with the biggest surge in 14 years. What caused so much house-shopping? Analysts were quick to explain it - the biggest decline in prices since 1970.

The Oracle of Greenspan has opined on the runaway Chinese stock market. Addressing a meeting in Madrid, the former chief of America's central bank said the China boom was "clearly unsustainable."

The volcano of hot, easy, fast money belches on.

Cheap money is making a lot of things a lot dearer than they used to be, especially status.

China is investing $3 billion in the giant buy-out firm, Blackstone. What else are they buying.

If you could know what the future would bring, why would you bother with values?

The trouble with investors is that they know the price of everything and the value of nothing.

Stocks are soaring -- especially in China, where widows and orphans line up to put their money into the hands of people they don't know, who run businesses they don't understand.

Investment bankers in Moscow are now earning double the pay of their counterparts anywhere else.

Just when we thought the party was over, here comes a truck-load of cash and credit.