Iffy 2008 outlook for Wall Street

[PhiGam]

http://www.csmonitor.com/2007/1231/p02s01-usec.html

Already in 2007, profits from US business activity have been falling. Their overseas operations have become the main source of momentum.
"The domestic part of the economy is very close to recession," says Michael Cosgrove, who publishes The EconoClast, a market newsletter in Dallas. "The best situation is probably flat profits for 2008," or perhaps a modest rise, he says.

It would appear that our economy's poor performance is catching up to the major corporations. I actually hope that the economy starts to noticeably sag before November rolls around rather than after.

[KAPital PHINUst]

That article is a bullcrap fluff piece designed to give American's a false sense of security on our economic situation.

Simply put, "Iffy" is a gross understatement of our 2008 outlook.

[PhiGam]

Don't let the name fool you, Christian Science Monitor is the most balanced news source around.

[Kevin]

Originally Posted by PhiGam

Don't let the name fool you, Christian Science Monitor is the most balanced news source around.

It's the best news source that I constantly forget to read.

To it, religion is irrelevant except for one daily editorial. Otherwise, it's very balanced.

[preciousjeni]

I'm extremely concerned.

If profits were to fall, that would ripple beyond corporate boardrooms in two important ways. Companies would become reluctant to create new jobs because profits provide fuel for corporate investment.

In particular, this scares the mess out of me...because it's coming. No doubt.