The bears too have been surprised by the system's resilience, but they still see a large remaining financial bubble which they fear may burst, possibly plunging America and the world into a depression similar to that of the 1930s, or at least of the past decade in Japan.

ECONOMIST: Capitalism and its troubles

Latin Americans burst into tears and jubilation at news that the region, which counts 40 percent of the world's Catholics, finally had a pope to call its own.

NPR: Argentine Jorge Bergoglio Elected Pope Francis

Interest rates hit 21.5%, a deep recession ensued with unemployment reaching 11%, the agricultural sector slid into depression, a bubble burst in the energy sector, the real estate industry collapsed, and third-world debt burdens nearly brought down the mega banks.

FORBES: The Inept Financial Reform Bill