EvertonColI think, rather than looking for the end of the world,...

EvertonCol

I think, rather than looking for the end of the world, look for the unexpected.

EVERYONE knows the situation could get worse than the Lehman situation, which is exactly why it wont.

Worst case scenario is already built into the price of equities, and that's why we aren't seeing the dramatic falls on bad news that we saw in August. And as banks continue to sell down their exposure to European sovereign debt (the reason why yields are rising), the risk becomes smaller and smaller.
Given time, and a capitulating Euro politician or two, we will see QE followed by excess liquidity and a boom in all hard assets as debt gets monetized. Fiat currency downfall is NOT new....