I too agree that we could already have seen the bottom. However, I do not see why there should be lots of cash floating around. If someone sells to raise cash, someone else used cash to buy, no net change. Same thing for housing.

Ofcouse we may be spending less(at least I try) so eventually we will build up some cash, but then again a lot of people/companies are hurting so not too much saving from those either. This is just my take on it.