America on painkillers

America got so many shocks in the last month and took so many painkillers, that they do not feel anymore the pain.

Let's sum up: the whole investment banking branch is dissapeared! Their whole history was erased during september 2008! The world biggest insurer AIG is out! The largest US saving and loans bank, Washington Mutual gave up the last night! The federal mortgage associations are also down!

The consequences are not fully foreseeable and will take years to recover. Do not be misleaded by the apparent status-quo that we see now in the US markets. It is just painkillers effect and a lot of hope.