The continuing rally in the US stock market is now in its 7th month and showed no signs of fading last week.  The S&P 500 was up +2.5% for the week, is up +59.9% since its 3/09/09 bear market low, and has gained +20.5% YTD (all results are total return performance numbers including the impact of reinvested dividends).  This was after President Obama visited Wall Street last Monday to deliver a speech in which he outlined the changes he believes are necessary to avoid a future economic crisis.  Obama thinks Washington's lack of oversight of the securities industry contributed to the near collapse of the US financial system last fall (source: BTN Research).
 
Another health care plan was released last week, this one by Senator Max Baucus (Dem., Montana).  The chairman of the powerful Senate Finance committee has proposed legislation that would cost $856 billion over a 10-year period (beginning in 2013) that would require all citizens to purchase health care or be subject to a fine.  His committee will begin amending and voting on the bill this upcoming week (source: Senate). 
 
The US dollar was called "on the carpet" by Vladimir Putin last Friday.  The Russian Prime Minister, speaking at an international investment forum, reprimanded the USA for "an uncontrolled issue of dollars" and suggested that additional world currencies (other than the American dollar) should be used as global reserves held by countries to diminish the risk posed by rising US budget deficits (source: AP).