I agree that equities will go up by a lot due to QE2 (and 3 and 4 and so on). However gold will go up by more. And there is the possibility of a multi-day or multi-week decline for equities and gold if market participants are disappointed by the release of the FOMC minutes at 2pm ET. http://www.federalreserve.gov/newsevents/press/monetary/2010monetary.htm
Trade War with China - Both the US and China will lose - The Chinese will dump US treasures faster then the Fed can buy them back. China can manage its political instability with guns. Not sure what will happen here. It seems a bit odd that companies in China that produce exports are becoming subject to "strikes". A warning shot across the bow to Wall Street and its moneyed interests if you ask me.
When the Fed stops trashing the $USD the market will tank. QE2 means a weaker greenback and all $USD dominated assets are going up!
What you don't believe in the Mayan calendar? It's not going to end. The days of the avg American owning 2 homes is over and they may have to move in with their adult kids. The standard of living is going down for avg. American. Not so for Canadians IMO. When the Democrats get ousted there will be less stimulus a stop to perpetual unemployment insurance and then there is going to be a real economy. That means higher unemployment, more foreclosures, and higher crime. Mad max will not happen. Maybe Ron Paul will have a real chance though in 2012.