All the focus on Europe's debt issue is short term B.S.
The U.S. is in just as bad financial shape as Europe, if not worse. The media just chooses to focus on Europe at this point in time as that's what suits the power brokers. Soon enough, the focus will swicth back to the U.S., with talk of how Europe has 'solved' it's problems, for now. We will have rotating waves of of media attention between Europe and the U.S., as TPTB walk their currencies down....
Bank on it!
MB