The stock market is up huge, with more to come. People have cash and are wiling to spend it again.
New normal. People don't necessarily have any more cash than they did before, they're just adjusting to whatver they have now. Moreover, people are also getting used to 10% unemployment, while at the same time beginning numb to their own employment uncertainty. The result, they're starting to live their lives like they did before the economy went south.
Just like France and other parts of Europe in the last two decades, the misery (high unemployment, tighter credit) becomes more tolerable and "normal". So, normal economic behavior returns. It's a new kind of "irrational exuberance".
>>’The stock market is up huge, with more to come.
Only as long as Uncle Ben keeps the printing press rolling.