MarketWatch: Confidence is collapsing around us

[marmar]

By MarketWatch


WASHINGTON (MarketWatch) — Confidence, the foundation of our economy and our markets and our democracy, is collapsing around us.

You can see it in the extreme volatility in the stock market, where 2% declines (interrupted occasionally with a 2% gain) have become commonplace. Investors are in a panic, rushing for the safest assets, such as cash, bonds, and gold.

And we’re seeing it in the economic data. Manufacturing firms in the Philadelphia region reported Thursday morning that business is horrible.

Nearly half of the respondents to the monthly Philly Fed survey said business conditions had worsened in late July and early August. Forty-seven percent said new orders declined, while more than a third said shipments decreased. ..........(more)

The complete piece is at: http://www.marketwatch.com/story/confidence-is-collapsing-around-us-2011-08-18

[defendandprotect]

1. Is this all elite money now or has the public actually returned to the market?

Thought it was only ever 20% of the public's money --

and of course, pensions and stuff they're trying to steal?

[gateley]

2. Plus I heard a "market person" say these were predominantly

big-company trades, thousands of trades per second per computer, not Bob selling his GE stock. Don't know if it's totally accurate, but I think there's some truth in it.

[defendandprotect]

3. Not so much economists we need looking at this as experts in financial crime -- !!!

[gateley]

4. No argument here. nt