Ouch

James Paulsen:
"We have had a loss in confidence because the government keeps changing its playbook, and when that happens investors don't want to put any capital into the market," said James Paulsen, chief investment strategist at Wells Capital Management in Minneapolis.

WestTexasBliss:
You just don’t get it do you Paulsen. Investors’ loss confidence because of the corruption and greed.

Investors' Hopes for Turnaround Dim as Markets Decline Further
As fears over the economic crisis continue to erode investors' confidence, markets at home and abroad are feeling the effects.

That's not a decline, that's falling off a cliff.

No end in sight

Economic data expected to be disheartening this week.

GDP expected to be revised lower to show biggest loss since 1982

Armstrong has just written a cheery essay called "The Coming Great Depression. Why Government Is Powerless". In it, Armstrong forecasts:

We are facing a Depression that will last 23-26 years. The response of government is going to seal our fate because they cannot learn from the past and will make the same mistakes that every politician has made before them.

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