Bloomberg Businessweek says”World markets are frothing like shaken Champagne, and doomsayers argue that today’s bubbles need to be deflated now before they get dangerously large.”

Alex Tabarrok on “The Lost Eden of Childhood. Not Lost. Not Eden.” Great comments, too. The more I learn about economic history, the more skeptical I am of nostalgic reminisces for “a simpler time” and complaints about “kids these years.” A couple of thoughts:

Fascinating Reason.tv interview with neuroscientist Paul Zak, about the evolved, neurobiological, oxytocin supported propensity to social trust and cooperation.

In his book, Boombustology, Vikram Mansharamani reminds us that when markets get bubbly, money starts flowing in Picassos, Warhols and the like. Normal folks on main street are hawking cheap paintings at garage sales to fill their gas tanks.

There is a remarkable outpouring of enthusiasm and affection occurring right now in London’s Trafalgar Square over the wedding of Prince William and the beautiful Kate Middleton. As I am writing, the couple has just stepped out from Westminster Abbey onto a balcony to wave to the crowd and smooch it up.

On the BBC, there was even an old gent interviewed who described himself as an “unabashed royalist” and who led a small crowd in pitchy rendition of God Save the Queen.

The Fed economists and their supporters really believe — truly believe — that they are the rescuers of our economy.

They did what they were supposed to do. Now, they have few job options at all.