The next asset bubble

Well, it took awhile, but the housing bubble finally burst in 2007, a mere seven years after the stock market bubble burst in 2000. What is the next asset bubble. Depends on who you talk to. Precious Metals? Oil? Gold?

Here's my take. As stocks hit the doldrums in 2008, money will be looking for somewhere to sit and get a nice return. In a recessionary era, Gold often is the place to reside. Look for Gold to get up to $1,200 an ounce if not higher. It may even hit $1,500, but by 2012 it'll be back down around $500 an ounce once our new president sets a new agenda to get this country's economy moving.

I see Oil between $75 and $125 for the foreseeable future and other precious metals close to the range they are at now as long as India and China continue their robust growth.