S&P downgrades US Treasury notes. People sell their stocks?
Europe has debt issues, particularly in the PIGS countries. People sell their US stocks?
The US debt situation raises fears of currency devaluation. People sell their *stocks,* and put the money in their bank accounts? The bank accounts will likely loose value if currency is devaluated. At least in the German inflation of the 1920's, stocks retained values while the currency became worthless.
To me, these reactions do not pass the Darwin test.
