fundamentals?

Quite new to this forum, noticed the smarter ones hang here. Question for you guys to ponder. I read a lot, especially on this forum, people comparing this period to the tech bubble and that of 87.

The standard response from the obviously bullish crowd, is look at the fundamentals......supply and demand. Stronger for longer! However how accurate is the info we recieve regarding the supply and demand side of metals. I for one am very dubious on the demand side. We have funds injecting trillions of dollars into actual commodities now and absorbing a large proportion of the supply. Last time i checked funds dont produce anything! I have a sinking feeling that the fundamentals the market has been using to justify the rapid rise in commodities and of resource shares could be a little dodgy.

By the way I am long oil and bullish resources, no whining bear here! could someone more intelligent than me dispence my irrational fears