Weakness in the capital markets, compounded by an erosion of corporate and investor confidence, has depressed activity in a number of our most important businesses, ... While we have seen some encouraging economic data of late, the current environment remains very challenging.

We've all got to work to restore business confidence...but I believe that longer term we may look at Enron as being a positive as opposed to a negative. It may lead to greater transparency.

Household confidence is very weak, suggesting household spending is vulnerable. We expect spreading weakness in retail spending as the year progresses.

I tremble for my country when I hear of confidence expressed in me. I know too well my weakness, that our only hope is in God.

While it's a bit of a surprise, the slightly downbeat news on confidence can be explained by the ongoing weakness in employment, and perhaps consumers are a little concerned about the backup in mortgage rates. But while they're becoming less confident, they're still buying -- the latest sales numbers still look good.

There is further weakness ahead for consumers. House prices are falling, home construction is soft, consumer confidence is down and oil prices have risen.