The current issue of Business Week (November 5) highlights the "free fall" of profits that is occuring in the US economy right now. It reports its own survey of 124 "bellweather companies" that profits have plunged around 50% from a year ago (p. 44) (this is astonishing!). It warns that "things are likely to get worse before they get better." It is this plunge of profits that is dragging the US economy into recession and is threatening to turn the recession into something worse. Fred
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