Again just one person's perspective but it felt like the mal-investment from previous asset bubbles had been allowed to more fully resolve itself. Certainly that was the case with the dot com crash there was real pain felt throughout the system. Whereas this time the housing crash morphed into a kind of economic twilight zone. I have friends who trade on Wall Street who tell me that the market now moves not on economic performance and fundamentals but on perceptions and predictions of Government intervention.