I would echo what's already been said. My reading of what Mr. Bernanke, the Federal Reserve chairman, is doing in the United States—and his concerns are primarily unemployment and deflation—is that it's very much focused on the short term. I think you could probably also see that equity prices have responded to his basic.... We've seen some bolster in equity prices recently connected to his statement that they're going to put more money into the system.
I think there is a concern, though, that as you take on this quantitative easing you add so much extra liquidity in the system. Where is it going to go? Is it going to stay in the United States? Is it going to go to the higher interest rates? We've seen interest rates rise in India and Australia very recently. You've got all these carry trades going on.
Is the money going to actually stay there to have an impact on asset prices in the States? It's hard to say. But I'm sure central bankers are worried everywhere in the world. When you keep these interest rates as low as they are right now, you're going to face bubbles down the road. They must be worried about that.