Teeters on Edge

Housing Market Teeters on Edge of Northern Rock in Capital Bust
Oct. 31 (Bloomberg) -- Nick Collins, an independent London real estate broker who's had record profits every year since 2003, took a hit in September -- and that may be bad news for a U.K. economy built on a housing bubble. Five of his 50 buyers pulled out of purchases, spooked by a run on mortgage lender Northern Rock Plc that left it 2 billion pounds ($4.1 billion) poorer.

``It's undermined people's confidence,'' says Collins, 38, who sells homes worth as much as 5 million pounds. ``The market's not as frothy and competitive as it was.''

If only there was a way to measure people's confidence. Then we'd know for sure what's going on in the global markets.

Consumer Confidence Drops in October
For retailers, the consumer confidence report, which showed its third monthly decline in a row, heightens worries that the holiday shopping season will be challenging after a disappointing fall.

I'm confident we can just accelerate right through the Christmas season if we set our minds to it. Aren't you?