Look at the VIX index and the world looks like a safe place. There is no risk. The world is boring. The numbers do not lie but there seems to be a lot going on and markets are acting complacent about risks. The fiscal cliff in the US exists. The presidential election is a focus on different views of government behavior. Europe is still a mess. BRIC's will not solve the growth problem. Monetary policy is a mess around the globe. Its is not clear what the markets are waiting for.
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