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Financial markets are very liquid, because the US Federal Reserve Bank is trying to avoid a deflation at any cost. Interest rates are very low. 

The years 2000 and 2001 were not easy years for investors in general.  After a long run of economic growth, the tide took a downturn. 

Profits so far have progressed satisfactorily and the economic outlook is not unfavorable. But, after two good years in the stock market, uncertainties are growing. 

After an outstanding year 2003 and a positive first quarter 2004 the political and economic outlook has worsened.