[Updated: 6/20/2012]
Wall Street, which has the attention span of a coked up flea, has long ago forgotten the painful events of 2008; therefore they are regarding this European debt crisis as a buying opportunity...
The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.