"But as Rooservelt said we have nothing to fear but fear itself."

I think we have passed that station long time ago. According to Jim Sinclair we have passed the point of no return and have only left a "Thin Red Line Between Order and Chaos".

The Chinese are warning again today. They too seem to demand QE3 to have some more time to prepare for the worst. I am preparing for a very volatile summer. Any deflation scare is ridiculous, because food prices recently have been rising tremendously (at least here in Europe). I do the shopping at home and prices of meat, vegetables and fruits are rising very fast, except in the statistics. I see the pale faces of ordinary people when they pay in the supermarket. They are keeping up, but luxury items have disappeared from their food basket. Next step: abolishing meat and fruits. Another sign of crisis in Europe: a lot of sponsors of sports clubs are betting sites. When people cannot earn their money in a normal way, they start betting and playing lotteries. Those florish and start dominating in sponsoring and commercials, while normal companies struggle.

Most important here is to keep your job.