Thus, despite all the media talk about fear, drama and emotion people in the investment community are actually very unemotional and pragmatic and unfearful (I can not say they are courageuous now can I?)
The problem is that all of the above countries are still stuck in economic bubbles, yes the bubbles are not as rosy but they are in bubbles still — partly to keep American, British and French banks safe (who are the largest other party to all the debt that these countries have taken), partly because the populations there love to delude themselves.
Investors will get back into Europe after the crash to buy on the cheap — almost everybody is as cunning as a fox these days, nobody buys when the price is percieved to be too high, because of the abudance of information.
These types of investors are small guys like you & me, sovereign wealth funds.
However, there is an another type of investors who look for even a bigger score. Obviously, the counterweight to buying on the cheap in Europe is that a lot of banks in the U.S., British and France will be up for grabs as well.
To give you an example of how these other type of investors operate — you might not have noticed but there was a lot of noise during this late summer from the controlled alternative media, such as Zerohedge and even your trusty old charlatan Alex Jones and from rumours on the trading floor about Societe Generale being on the verge of a collapse — these rumours were magnified until the moment that S.G. turned to the Rothschilds in France for help and guardianship — then suddenly everything stopped. Heheee.... somebody is beginning to take control of the banks on the cheap.
The funny part is that the Rothschilds are not as rich as people claim or think they are — there have been a lot of people in the U.S. who are richer than them in terms of net worth, however they just manage affairs by spreading rumours and perception better than you or I can or that glamorous, over-the-top big, soverign wealth fund ever can — connections, connections.
I mention this as an example to conclude that there are two types of investors, the ones who are waiting for the big crash and the ones who are trying to manipulate through the anxiety and rumours prior to the big crash.
But nobody is particularly scared of anything as far as things go. Everybody is preparing themselves, like F1 cars for the start of the race. A game of nerves, perhaps but not of emotions if you know what I mean.
References, before you judge me:
[1] http://online.wsj.com/article/BT-CO-20110823-709045.html [2] http://www.latribune.fr/entreprises-finance/banques-finance/...