The jobs report was pretty bad and I don't expect the situation to get much better any time soon. I don't think many of the lost jobs are coming back. I think we will need to see new sectors develop before we see any significant job growth - genetics, alternative fuel, whatever - we need the next I.T. sector to come along.

In the meantime, I expect the fed to wait too long to start applying the breaks. I don't think they have much choice and I am not surprised that they are providing no hint whatsoever that they are going to discontinue their "extended period" policy. They are in a terrible pickle and imo, int rates remaining at 0.25 is may actually hurt the average Joe consumer moreso than a fed funds increase of 0.5% would have - the carry trade is going to continue and in fact, after the jobs number came out bad this morning, it may pick up steam. Commodities prices look like they are going to remain at current levels or perhaps go quite a bit higher for several months (will we see $100 oil any time soon?).

I have been buying silver over the past week or so. It's come a long way over the past few months and it seems to be struggling to go higher but the $ looks to me like it's going lower. Having said that, there are some countries that are in way worse financial shape than U.S. Look at U.K. for example. Their debt is somewhere in the region of 450% of GDP.

When the entire world apart from China is carrying such huge debts, where and how does it end?

Seriously, there are some smart people on this board, so I am asking - who and what is likely to become a casualty and who/what is going to be a beneficiary?