Those who’ve been using Macs for a while may remember that there was a Library folder in your home folder, once upon a time. It saves some useful information (application settings etc). Upgrading to Lion, it looks like it’s disappeared – in fact, it’s just hidden. Very well hidden.
If you do need to track it down for some reason, the quick way to get at it is to click on ‘Go’ in the Finder menu and hold down the alt key. Your Library will reappear in the list there (about halfway down).
[with thanks to 318 Tech Journal]