Cognitive dissonance

Viscount,

I feel the exact opposite, and I don’t think it’s just a constant state of “doomerism”, because I’ve felt closer to how you feel before. First, you are correct to note that it is “brightest before the dusk” or “calmest before the storm”, as extensive levels of complacency in the face of worsening fundamentals on every level usually signal a peak in mood, confidence, valuations, etc.

Second, there is nothing about Europe that has been contained. Many mainstream analysts, at least the semi-respectable ones, agree that there is no good way out for Greece anymore, regardless of what kind of deals they reach. Way too many moving parts that want to collide into each other rather than function as an efficient machine.

And all the US data manipulation, settlements with criminal banksters, MF Global looting without any prosecutions, police state tactics and ridiculous political theater is just destroying whatever confidence the people had left in their leaders to do anything competently or justly. Perception of the US economy may benefit some more as the Euro situation depends, but once the bank runs start, that will change very quickly.