The Stock Market is whetted to the banks, which have are leveraged beyond belief, and owe trillions in derivatives. Today, there is about 18 times the amount in derivatives held than the entire GNP of every country on earth combined. Derivatives are a time bomb.
When they implode, the entire world economy will go with them. And know this, the Big Banks are not going to pay these bills- you are.
The next collapse will of course, be global. Why has the Federal Reserve resisted an audit with such high pitch screaming and veracity?
Because they have used our pension funds and money invested (including even our checking and savings accounts) for other world banks to use as collateral. This allows them to write even more naked short derivatives, and then allows them to buy euro currency as to reduce the exposure and borrowing costs of the Central Banks.
The Stock Market, in turn, keeps inflating. It is both casino and Ponzi scheme.
It can't go on forever. The powers that be have propped up the whole enterprise for years now, but someday it will end.