Maven: It's Not Google That's Gone Wild

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We've had a day to digest the news of Google's (GOOG Quote) gobble of YouTube, and The Business Press Maven has an ensuing case of indigestion.

From The Washington Post to The New York Times, the snap, simpleton judgment is that the acquisition was reminiscent of the 1990s in that, well, it seems kind of crazy.

A pattern of crazy behavior is, of course, a great inverse indicator of a topped-out market, but Google, a single entity, has enough money to take a flier on trying to integrate a hot and comparatively small company.

Maybe there is more to this one.

Besides, while declaring Google certifiable, the business media, in all their infinite sluggishness, are missing the real pattern of crazy behavior that has been a tip-off to the top-out in commodities.

I am pontificating, of course, about how everywhere we look, we see loopy, overconfident behavior from two-bit leaders of commodity-selling countries that have enjoyed good runs.

Commodities have always been used as weapons by one country looking for leverage over others.

But I'm talking about seeing a pattern of insanity -- crazy, arrogant, overreaching collective action that is truly on par with the Internet boom of the late 1990s.

Everywhere you look, leaders of commodity-exporting countries are acting as kooky as fin de siecle technology analysts.

Take a look at the latest this morning in the Financial Times.