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Recessions breed low levels of confidence at both the business and consumer level. Beginning with the basis that perception is reality, there are many who believe recent policy changes and anti-business rhetoric coming from Washington are undermining confidence. From the Wall Street Journal:

What is confidence and why is it missing? The concept seems to be driving Treasury Secretary Timothy Geithner crazy this summer. You can hear that when you listen to him talk about the poor quality of the current recovery. Last week, on PBS's "NewsHour," for example, he said the administration was working hard to restore "a basic sense of confidence to American businesses and American families."

Mr. Geithner is gradually discovering that to recover, the market needs a specific kind of confidence. It is not something Washington can hand down. It is not even demand confidence; the confidence of the consumer who wants to shop. The confidence relevant to recovery is the confidence of the investor and the saver. It comes only when an administration in Washington demonstrates reliability and restraint. (Full Article).

• ECB To Stabilize Bond Market The Wall Street Journal September 2012

• What Is The Fiscal Cliff? About.com July 2012

• Political Instability In Greece Continues CNN May 2012

• More Monetary Easing In Japan Chicago Tribune April 2012

• Growth vs. Inflation Debate Heats Up Reuters April 2012

• CBO: Proposals Would Reduce Output Reuters April 2012

• China To Limit Stimulus in Current Slump Businessweek September 2011

• Confidence Fairy and White House The New York Times June 2011

• Low Confidence = Favorable Stock Returns? MarketWatch March 2011

• Confidence Drops In U.S. Gallup March 2011

• Obama Looks To Google For More Friendly Tone The Independent March 2011

• 2010 Business Friendly? SFGate December 2010

• Bailouts Bad Policy The Courier-Journal September 2010

• Dodgy Days For Business Washington Times August 2010

• White House & Economic Perception Wash. Post July 2010

• Stimulus "Bang" Shifts To Infrastructure CNN July 2010

• $795M For Broadband Access Business Week July 2010

• China Not Ready To Lessen Stimulus Bloomberg October 2009

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