Hey, its earnings season! Let’s look at the overall profits recovery, and see if we can figure out where all this earnings goodness is coming from together.
As the Chart of the Day (below) shows, S&P500 earnings have recovered from their harrowing 92% plunge back up to to near record levels. We are higher than the Dot Com earnings peak, and coming up on the Credit Bubble earnings highs.
I guess the economy must really be healthy, and this is nothing but a positive sign for the future. After all, what else could be the source of such magnificent profit gains . . . ?
Courtesy of Chart of the Day