Watching the IMF Chief last night on 60 minutes was a little eye-opening, in a sense that the IMF is either always painting a picture of the world collapsing or everything is fine. People tend not to put much weight into the IMF...but this one seems different. She is known for "saying too much" and being "too honest". If she was being "too honest" last night...her opinion on whether Europe will go into a severe recession is one of almost certainty. And America. Today's markets are setup for a fall as maybe - just maybe this weekends news from Europe will finally affect the American market with some sense of reality. I also agree with her assessment that this is NOT different from 2008 - that this is still 2008. In other words 2011/2012 round II is not "another" collapse, but the result of nothing changing to fix problems that occurred in 2008. I also agree that we could be in for a decade long recession since governments throughout the world are failing the people to do what needs done.