Perhaps those wealthy Americans whose confidence has fallen had read this week’s Buttonwood column in The Economist:
BUTTONWOOD’S cats are normally the very picture of somnolent peacefulness. Last night, however, the purrs turned into deep growls, and the growls, all of a sudden, into a whirr of fur and fury. Listen carefully and you can hear the growls from financial markets too. Can the fur and fury be far off?
High oil prices, a weakening dollar, troubling signs from the bond markets… all are adding to suspicions of a looming economic slowdown.