And for three months in a row, unemployment has been rising, credit defaults as well, consumer credit has been contracting and deflation biting the debtors.
This evening Alcoa kick started the earnings season, and announced a profit ($77 million or $0.08 per share) where analysts were expecting a loss of $0.09 per share. And the profits are due to cost cutting (I haven't read the earnings report, but I'm guessing: accounting gimmicks).
No comments:
Post a Comment