Far from over. You folk (the US) have not started to make any appreciable progress in the repatriation of your manufacturing sector. You are shipping all your disposable income over to the Orient to pay their workers to build things that you're perfectly capable of making yourselves. Then you're shiopping the rest of your money over to the Orient and the Middle East to pay the interest on the loans that those countries gave you to buy the things that they were making.
Problem is - when you make the goods here, your workers want to be paid a living wage (greedy huh ?? - perhaps the new administration can pass a law outlawing wage demands or something...), hence your arriviste (newly-moneyed) classes can't afford to overindulge in US-made goods the way they can in foreign made crap. Short term approach. Nothing is coming in to mitigate the outflow.
You (the US) are still spending more than you earn. You (as a collective group) will be forced to notice things next March. It would be a good idea at that time not to have too much cash or commercial paper of any kind and it should not be held for you by anyone other than the most stodgy and solid of banks.
Buy good stuff (land, gold, Old Masters, more land, etc.) Keep
some cash on hand because deals will be exceptional around August.
Come to terms with the fact that you will never, ever personally be as rich as you once were. Actually, most of us in North America are going to be seeing some of our wealth erode.
Enjoy life - it is still a beautiful world.
