7%, the Standard & Poor’s 500 Index returning 5.
What’s Going On
In terms of economic sectors, as measured by the Russell 3000 Index, Consumer Discretionary led all sectors during the first quarter, returning 12.

7% and 11.
Telecomm Services was the poorest-performing sector, returning -3. Overseas markets did not fare as well as the U.  with the MSCI EAFE Index (net of taxes) rising just 0. County governments and municipal governments are able to file for (Irvine Bankruptcy) and reorganize their debts in Chapter 9 with the bankruptcy code.
4%. As noted above, much of that positive performance carried into the beginning of 2010. S.
6%. While the economy and the financial markets have moved away from their worst levels and corporate earnings have started to recover, there still may be troubling clouds on the horizon of the road that returns us to prosperity. The housing market also remains deeply troubled, with supply far outstripping demand, although some price stabilization appears to be occurring in some regions and sales have risen sharply compared to this time last year as many buyers are motivated by the April 30th end to the government’s cash incentives. 6 million. Thus this would imply that there is another 1 ½ years of home supply that still has to come onto the market place all of which as bank owned property, figures to depress or at best hold flat existing home prices. Expect to read and see more figures like that as well as that total foreclosure filings in the first quarter of 2010 reached 932,000 a 7% increase above fourth quarter 2009, which translates into a filing for about 1 in every 138 U. households. One source of economic growth looking forward could come from those companies investing that cash in new equipment, plants and products, accompanied, one hopes, by new employees as a result of the increasing profitability of these particular companies.

Bailouts
By now everyone has heard about Greece, its enormous debt levels that required a “”bailout”" for the country to prevent (Irvine Bankruptcy Lawyers) courtesy of the International Monetary Fund (IMF) and the rest of the European Union (EU). For perspective think of someone you know who would routinely every 2-3 years refinance their home and then pay-off the credits, lines of credit, and other goodies that they purchased/financed since the last time they utilized their home as an ATM; only since 2008 they couldn’t refinance and what happens to them then well.

National Debt
Without expending the rest of this letter to talk about the perils of irresponsible spending whether it is personal, business, or government and the creation of debt, let me just conclude for now by sharing these sobering statistics:

•    Last month the Federal Reserve Bank had created $2. S. 8 TRILLION in debt (bonds)
•    The U. Treasury Debt had $12 TRILLION of debt (bonds/notes)
•    Government Sponsored Entities (think Fannie Mae, Freddie Mac, and Sallie Mae, etc) have issued another $5 TRILLION in debt (bonds).

Closing Thoughts
As in life, it is often helpful to maintain a balanced perspective when contemplating a long-term endeavor, such as investing. Since March of last year, however, U. stocks have risen substantially, and the economic environment seems much less dire in the spring of 2010. Patience will, no doubt, be required, as well as moderated expectations with regard to growth, job creation and asset price appreciation. Hopefully the economy will pick up enough so that quite a few municipalities across the United States will comprehend boost revenues and avoid an epidemic of municipal (Santa Ana Bankruptcy Lawye) filings.