5/10/2004

Both Consumer Confidence and Investor Confidence plunge over the weekend. Don't think that that this prison thing can't derail the recovery. It can. The recession of the 70's was caused by Watergate. When we lose faith in a major institution we tend to lose faith in all of them. Market will tank today, big time. At least early because I guarantee you that every trader everywhere was seeing nothing but prison videos all weekend. It's about faith, stupid.

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