To say current economic conditions are challenging the acumen of those who are charged with adjusting to them or planning for them would be an understatement.

And it goes without saying that in these volatile times, investors, like business executives, have to keep an eye on the near-term and the long-term.

The U.S. Federal Reserve has embarked on various liquidity measures, including quantitative easing. Meanwhile, the U.S. Treasury, as a result of $350 billion in deployed TARP money (and another $350 billion available to be deployed if Congress approves), has stabilized the financial system, at least for the time being. And if economic history is any indicator, look for the bulk of the Fed's monetary stimulus to begin to take effect within three months of deployment.

Meanwhile, the Obama Administration and new U.S. Congress are expected to act quickly on a large fiscal stimulus package that could pump an additional $800 billion into the U.S. economy over two years. And if economic history is valid here, as well, look for the fiscal stimulus to begin to take effect within six months.