Step 1: Hey, some countries have budget deficits. This is terrible. Sell! Sell now!
Step 2: Countries are making huge spending cuts. That's great! Buy, everybody buy. Now!
Step 3: Oh my god, we're falling back into recession because of the budget cuts! Sell dammit! Sell, now!
To be continued until there is nothing left.....
Well, that's what they get for listen to people who claim they know what the market is saying.
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