US pessimism worst since Watergate

Guardian UK

Collapsing house prices across the United States have made Americans more pessimistic about the year to come than at any time since the height of the Watergate scandal and the first postwar oil price shock in the early 1970s, it was revealed yesterday.rnrnAdding to fears that the world's biggest economy is falling deeper into recession, two reports showed an acceleration in the decline in house prices and an unexpectedly sharp fall in consumer confidence.