It has been recently. But being the U.S.'s situation is on par with Greece and Italy... I'm going with inverse ETF's, deep value dividend paying stocks that are high quality (INTC is the best example), and international ETF's in the countries that are most beat down (pretty much all of them). I only retain cash as long as it takes me to find something worth buying, which usually isn't very long...I'm also loaded on speculative biotechs. They'll either get bought out for 2-3x what I own them at, go towards zero, or hit the next home run and end up somewhere near the moon. I'm also taking another run with Avalon (AVL), which has never made a profit in 15 years of business. Good luck navigating this market.