Many people remain bearish on the US economy. Very good interview on CNBC by Julian Robertson.
The US will face Armageddon when the Japanese and Chinese stop buying US treasuries. I personally would rate US debt as junk, but for some reason it is still yielding a very low rate. The budget deficit and the Fed's balance sheet are exploding on top of a monstrous current account deficit. The intrinsic value of the dollar is zero. Sell your dollar holdings before the sheep stop accepting them.
To all the silly people talking about deflation, I will answer your question. We will have deflation if the asset class you are holding is gold, silver and other foreign currencies. Some equities included.