The end of the world as we know it (tongue in cheek) post
It will play out in this order:
1. Deleveraging / Liquidation (in full effect)
2. Insane government spending (has started, will grow to ridiculous levels)
3. Bond market / Fixed income collapse (pending)
4. Currency collapse of USD
We have a major deleveraging process underway. As the Hedge Funds puke all over the street, the margins rise which will not just deleverage the system but force further liquidations. Some funds may be forced to shut down because withdrawals by the end of the quarter.