OK, let's contrast the "sober" piece from Martin I just posted with the salty prose of Joan McCullough, who explains another version of the euro crisis and what the German vote really means. Both of which show that we are getting to desperate times, which lead to the inevitable desperate measures, which usually means another real crisis is looming, etc. Quote: "As you know from the subprime fiasco, leverage is like having a magic wand, right? Unfortunately, when the trade goes against you, there’s a strong possibility that you’ll wake up and find that magic wand … jammed up … yer, yer … jammed up yer P&L. Take the visual." I love reading this lady.