"When will the day of reckoning arrive for the buyout bonanza? Carlyle's boss speculates that terrorism, rising oil prices, trade protectionism, rising labor costs in China and India, central bank tightening or even a multibillion bankruptcy could cause global liquidity to dry up. There's nothing surprising about this list. But something's missing. The debacle in the U.S. mortgage market could also end private equity's party."

Carlyle Group Plays It Safe - WSJ.com