Here are my two cents worth:
The US economy is in deep trouble. It must lower its interest rates to avoid a deep recession. There will be inflation as money will be printed and the financial system will be fixed. The infrastructure program will come on stream and the economy will start perking up. On a year or two the US economy will be strong again as the US economy is the source of much innovation in the computer high tech sector. Defense spending on advanced military systems helps the economy. The Internet was the result of the Defense Department spending called DARPA which laid down the foundation of the computer network. The TCPIP protocol was developed. Probably the auto sector will be helped in some form Washington does not want to lose the auto sector.
If you took a course in investing there is a recommendation as to your age and the kind of portfolio you should hold. The portfolio is the word they use to call your entire financial holdings. It depends on your earning capacity. If you are young and have a lot years to make money then it is suggested that you put 30-40% of portfolio on a safe investment that is a bond or certified deposit account. Then they recommend 30-40% on blue chip stocks i.e. big name companies like IBM, Microsoft, Disney, etc. (At the moment stocks would be good to buy at rock bottom prices as they will pick up when the economy recovers. Better wait till they reach near bottom. However, you should check their debt load as that could be their undoing. Those big name companies with high debt loads are the ones teetering on bankruptcy as they tried to use loans for operational expenses and expansion. Avoid companies using loans for operational expenses as they are mis-managed.)
Then the remaining 10-20% go for high risk stocks companies that are in their infancy but grow to be behemoths like Google was a few years ago and also Dreamworks. You have to know the founders and what they achieved.
Those close to retiring or whose earning capacity are limited should go for the no-capital loss feature i.e. Government Bonds, Certified Deposits, real estate and the like. With the US real estate at a market low one could pick up some real estate dirt cheap and hold it till the economy comes back up. Then rent it or sell it. The infrastructure program will start within 6-9 months of Obama's Inauguration. The economy will start climbing up. You'd be laughing.
At age 30 you could leave your deposit and build on your other portfolio in maybe some riskier stuff as you have another 35 years of earning power left.