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  • Wall Street Breakfast: Must-Know News [View article]
    16 out of 20 reporting companies beat estimates - and most seemed to be year-over-year gains. These results were generated before the real credit freeze, but well into the current malaise. GDP was up in Q3; Leading Economic Indicators are slightly up.

    Overnight LIBOR is back in line, and three month LIBOR has moved in the right direction for 8 straight sessions. Home sales are up; prices well down - but not yet back to trendline. The various government actions will take a little time, but seem to be working.

    So, the question is: for an economy that had been teetering on the edge of recession for a year, how bad has the shock of the financial system been? It would seem that the markets have been scared to death, and the conventional wisdom is now overdone - at least in the perspective of a year or two. After that - the inflation tsunami.
    Oct 22 12:04 pm |Rating: 0 0 |Link to Comment
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