Whatever the scenario that ends the calm, today s age of low volatility will seem like a distant dream to most of us and a forgotten nightmare for ambitious financial traders.

The nightmare scenario envisioned by many in Pakistan a nuclear armed country actively targeted by al Qaeda and the Taliban could become a reality. But this need not be a foregone conclusion.

China s Industrial Nightmare

Europe s Procrustean Nightmare

China s Excess Capacity Nightmare

I had a nightmare.

It was a nightmare.

But, by lowering long term interest rates, central bank purchases of government debt can help contain government debt service. In this way, QE can keep solvent a government that otherwise would be insolvent a nightmare scenario for a central bank.

Waking from the Middle East Nightmare

Distribution is a nightmare, but not impossible.

Yesterday evening I had a terrible nightmare.

And he beat me too. But that didn't change the fact that it was a nightmare for my family it was a nightmare.

I had a really bad nightmare last night.

Indeed, the nightmare scenario haunting the world is the collapse of another shadow banking entity, causing global trade to freeze, as happened in 2008. The Basel III agreement on capital adequacy and other recent reforms still have not ring fenced trade financing from these potential shocks.

Boat Scenario

To change the Arab nightmare into the American dream.

And eventually, our worst nightmare happened they flooded the engine.

Well, is that a fairy tale or a living nightmare?

I feel as if I've woken up from a nightmare.

Eating lots at night can easily give you a nightmare.

For Russia, a new treaty would allow it to live with the hitherto nightmare scenario of Ukrainian accession to NATO as long as the pact remained in force, Ukraine s membership would have no military consequences. NATO, at least in the Russian hinterland, would become first and foremost a political organization.

That's my favorite scenario.

Race scenario drawing tool

This has got to be a nightmare, this can't be happening.

Indeed, a few individuals' dream could turn into a nightmare for millions.

That's an absolutely possible scenario.

So this scenario makes predictions.

What's the worst case scenario?

There is no alternative scenario.

Red meat and chocolate may sound like a nightmare for your digestive system.

Please, I just want to wake up, it's got to be a nightmare.

That's something like a movie scenario.

And the tubing coming out of my chest was a nightmare for costume designers.

In this scenario, nobody's listening to anybody.

I'm jumping to the worst case scenario.

That is the scenario at the moment.

So these we're starting to build a sort of nightmare of constraints in a bathtub.

The nightmare of war and the suffering and death of millions compelled humankind to shudder.

I'm going to give you my favorite scenario.

We have focused on the worst case scenario.

A remote scenario? Perhaps, but not remote enough.

Can such a scenario also apply in Darfur?

Thus, central banks in many advanced and emerging economies are facing a nightmare scenario, in which they simultaneously must tighten monetary policy (to fight inflation) and ease it (to reduce the downside risks to growth). As inflation and growth risks combine in varied and complex ways in different economies, it will be very difficult for central bankers to juggle these contradictory imperatives.

It would lead to a scenario of a failed State in the Sudan, the scenario which the signing of the Peace Agreement was designed to avoid.

Now, let's just change one thing in this scenario.