Well, I went to cash over the summer in my biggest account, thank goodness, and a smaller account entirely in gold. The global politician class sure knows how to frighten investors. Every time Bernanke Obama opens his yap, stocks fall and gold goes up. The euro is disintegrating - its like a family with 10 teenagers, one checking account, everyone writing checks, no one making deposits.
The Germans were supposed to bail everybody out, the way they did with East Germany. In the case of the PIIGS, a bailout would just postpone the inevitable, and most Germans know it.