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Yes the markets are showing a lack of confidenc in what the Obama admin is showing them so far...can this change for the better or even worse..yes.

Right now part of the economic effect that MRM is talking about is caused by a lack of CONFIDENCE. People are scared and are cutting back on normal activities. Remember there is always a demand in society for goods and services..things wear out and need replacing or servicing. Also with an INCREASING WORLD POPULATION...more goods and services to meet the needs of those people HAVE TO BE PRODUCED. We are not talking abut conspicious consumption here either. As far back as las t summer I was talking about an Obama Secular Round Head Revolution which if you know your history is a revolution of AUSTERITY..people only buying things they need..now that might mean a new TV set as the old one does not work anymore. But the days of Porsches, BMW, MB, Esclades, Hummers, McMansions, dinner for 2 at Mortons and a trip to the Bahama's (unless your depositing a suitcase of cah in a bank) are over.

So this is the collorary to MRM...who needs to spend some cash and buy somthing of value for his wall.

This one of the things that GM and even Ford said that the need for replacement vehicles is going to be needed as the old ones are wearing out. Thus a pent up demand is coming. This is not only true for cars but homes as well. The USA is creating 1.6M new households a year with 600,000 or so new homes being created.