I'm in Cordoba with limited computer access. Can't post pictures, but I have had a look at the markets using a friend's computer. I see lots of signs showing up that could well mark the end of the recession. Weekly unemployment claims have been flat for the past 5 weeks. Banks are still lending increasing amounts of money. Commodity prices, particularly energy and copper, are moving higher. Equities have been up for over two weeks from incredibly distressed levels. Leading indicators of financial stress such as swap spreads and the VIX index, improved months ago. The news of course has been horrible for months, but the numbers aren't showing further deterioration; that means the economy has absorbed the bad news and has largely adjusted. Furthermore, tax increases are not imminent; cap and trade is going to have a big struggle getting through Congress; Obama has lost a lot of credibility and momemtum; Blue Dog Democrats are marshalling their forces to bring reason and moderation to the budget process.
Things could be an awful lot worse. I'm going to go out and do some sightseeing here in Cordoba. I think the markets will survive without me watching them!