Easily, we are in a very very vulnerable spot in the history of share values. Overheating of property values in the UK could auger a turning point in the speculation cycle. This is not anything new to economic historians, but policy makers have boxed themselves in with limited actions to avoid sudden off the wall correction, triggered for example by a major war or natural disaster.
Typically there are two bubbles in the stories of bursting stock markets and implimentation of inappropriTe policies. Have a look at the Thailand economy in 1997-2000.
We are probably due for the second correction even at a casual observation. If the Fed and the BofE errs once they can easily err twice.
Wooh
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