Despite the optimism of market pundits over the outlook for 2013, a growing number have begun to worry about the near term. Quarterly corporate profits are falling, and the number of companies cutting their expectations for the current quarter has risen to four times the number raising theirs. This is the weakest ratio in 11 years. Earnings are the first to react when the economic climate is changing, so, like the proverbial canary in a coal mine, the alarms are sounding that the overall economy may soon decline as well.
Despite the optimism of market pundits over the outlook for 2013, a growing number have begun to...
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