I work for one of Morgan's competitors and I can tell you firmly that they are very much in the minority opinion. The long slow grind of the US dollar (after a slight honeymoon bump post Obama) in a reality against almost every currency save perhaps Zimbabwe. Wait for the Middle Eastern superstars to start announcing one after the other that they are pegging their currencies to the Euro... UAE first. Dubai cannot sustain a 11% inflation rate when they are already pushing into the most expensive lists and trying to draw tourism and investment. neither can Qatar, nor Bahrain nor even the more stalwart allies like Kuwait... Sub-prime was the spark, the fuse is long, but the bang which is collapse is nearly certain. All the mighty eventually fall... ask UBS and Citibank.