Many folks much smarter than I have sort of predicted there will likely be a triggering event such as this in the EU or Japan that sets off the world wide contagion. Short term the US might be okay as we are large enough, trying to print more $ than the others and slightly less sick than most of the others in trouble. However the poison of currency swaps, derivatives, and other mal-investment has been spread far and wide around the globe and I don't see any place that will be immune. The temporary reprieve will not last here and in the end everything everywhere goes to pieces. How people react will detemine the outcome of what will occur next.

Most who are directly responsible for creating this mess will bleat "nobody could have possibly seen this coming"

JMHO and I have been wrong before.