Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money… maybe even at an 8% rate.

Consumer Borrowing Collapses…What’s up with sterling? Option ARMs get ready to reset…Gold falls back to below $1,000…And Now… Today’s Pfennig!