Does anyone know what percentage of the S&P is owned by American taxpayers, versus the percentage owned by foreigners and pension funds ? Pension funds only care about what happens to the market in the next few quarters, foreigners can sell out in an instant, and their children, grand children etc. don't have to pay the bills being run up now.

The crooks, bankers, Wall St executives, and politicians ( sorry, I'm being redundant ) must have some exit plan though, to get their wealth out of USD denominated assets. I suspect that a lot must still be trapped in the zombie banks and other institutions being bailed out.

These may be the ones who are leading the cheering with no apparent thought for tomorrow.