PIGS crisis just the biggening?

The sovereign default fears in the European countries is very small compared to what the real scenario is...7 states in the US are bankrupt...there is a limit to how much money can be printed by governments...ultimately there is going to be tightening of policies to bridge the deficit...which leads to deflation, crash of equity, commodities...and a rally in the Dollar Index

Back home the Nifty has broken 4700 on an intraday basis..let us see if it closes below 4700...