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With second-quarter earnings largely in the books (95% of S&P 500 companies have reported for Q2 2010), today's chart provides some long-term perspective to the current earnings environment by focusing on 12-month, as reported S&P 500 earnings. Today's chart illustrates how earnings declined over 92% from its Q3 2007 peak to Q1 2009 low which brought inflation-adjusted earnings to near Great Depression lows. Since its Q1 2009 low, S&P 500 earnings have surged (up over 800%) and currently come in at a level that occurred at the peak of the dot-com bubble. It is interesting to note that the original run-up in real earnings from Great Depression lows to dot-com highs took over 67 years. The current spike has taken 13 months.
Notes:
- Where's the Dow headed? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.
Avevamo detto fin dal 2008 che questa crsi era peggiore di quella del 1929 che decimò la popolazione statunitense... I grafici ci danno ragione.
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