Sunday, October 25, 2009
What Exactly is Recovering?
Can we really consider a company to be doing well when it has decimated its workforce, scaled back its holdings, closed stores and plants, and slashed the wages and benefits of its remaining employees? There is something deeply wrong when we consider these measures to be the signs of improved health and recovery.
I see the excitement surrounding improved earnings and the current run-up in the stock market as a futile attempt to squeeze out the remaining profits before the economy resumes its downward slide.