[kootenay]

For the most part tropic Cat is right but as much as touting an increase in GDP partly based on governments infusion of dollars, pounds, euros etc as a recovery I really dont think a .7 % decrease in income or tax revenue is a collapse in income. I do think that this situation will take a few years for the mud to settle.

I doubt if the US will do what it takes to reduce debt anytime soon but I do think the issue has been finally been raised to high enough level that every future government will be forced to ever more deal with the debt as an issue. Perhaps one day the people will actually be able to change the system to disconnect the industry lobbies from the political structure and then you will be actually able to cut budgets. But on that important part of the solution I'm not going to hold my breath.

One other thing, I do think that folks with money parked in Money Market funds and hiding quivering in the corner have been missing wonderful money making opportunities. My portfolio is up 70% so far this ytd and including the losses from last fall I am still up 43% since August of last year. Sitting back making no money on MMF's is just a complete waste of a hell of an opportunity.