The dot-com war.
Tracking a meme from my own rather limited point of view: Jon Meltzer was the first I saw to say it, this morning, over in the comments to this post at Making Light. —Five minutes of browsing later, and here’s Sullywatch making a more detailed case. (Although—thinking about it—George Soros wrote an op-ed a week or so ago about the Bush Hubris Bubble…) —The dot-com war. —This one has legs, I think.
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The main problem --aside from all the inevitable human suffering and pain borne of unilateralism, of course-- with waiting for the bubble to burst is knowing that the aftermath --the backlash-- is likely to be rabid isolationism, which won't do us or the world any damn good, either. :(