[isimluk]

I agree with what You said.

However, You can still have downward spiral even in case "everyone is talking/preparing for coming crisis". Imagine this:

- China going finally bust

- honkong peg to dolar broken (financial companies there going bust)

- australia mining slowdown and property market bust

- australia banking woes

Even though there are money on the sidelines, you can have crisis and even more money on the sidelines during few fearful quarters.

[thatiscool]

in your pipe dream.

[hogFeast]

The RBA has announced QE. China is shutting down banks.

I don't think any sane person doubts that China is going to have a debt crisis btw (it started a while ago), the question is whether they can do what they did in 1997.

But yeah: already started.