Market Watch with Tom Waitt

August_10th_2011.mp3 Crisis of Confidence    If you think you can you can; If you think you can't you're right. Global equity markets have lost their mo-jo. Market Emotion Cycle (Click For Larger Picture) With confidence, you can reach truly amazing heights; without confidence, even the simplest accomplishments are beyond ones grasp. Global markets have lost confidence, the recent downgrade of U.S. debt off it's AAA status was the latest in a series of events to zap the bulls and open the floodgates for the bears. The debt ceiling fiasco of political wrangling as Democrats and Republicans dug in like idiots was an embarrassment to mankind. The political fall out of budget negotiations will last right through the 2012 Presidential elections, which adds to recent distraught worries of serious unemployment. On top of this European unity is being tested, Mid East unrest and revolutions spread, Oil supplies interrupted, housing crisis continues, mortgage foreclosures, bank failures,