“U.S. voters will not permit a bailout out of European banks or sovereigns by any U.S. government action, be it via the Treasury or the Fed.”
Sorry to burst your bubble there but the US voters won’t even be told about such actions, the pre-cursors to which have already begun, and certainly won’t be able to stop them.
Yeah, recall the original bailout event: Bush et al called all top players into a closed room and (AFAIK) told them “the system is going to collapse within 24 yours unless you take this money, and you WILL take this money”. There was no discussion & debate to speak of.
Bubbles and dams show signs of bursting before they do, but when they do it’s very very fast. US voters won’t know the bubble is popping until either the rescue has occurred or their plastic won’t swipe.