The entire US rally has been based on the belief that the market can undergo a V-shaped recovery and that modern governments just will not allow the kind of unravelling that has followed all other major credit crises.  However, governments can only try to halt the malaise by increasing their own debt and running up huge budget deficits that cannot be sustained.

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The FBI has said that terrorist groups like al Qaeda have been using the Internet to recruit members and plan attacks, but they are now making the Web a target.

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The Chinese can save both themselves and US taxpayers by selling a large portion of their Treasury holdings this year. In fact, this economic missile may be the only way to save US taxpayers in 2010.

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