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CNN MONEY: How the profits stacked up – Nov. 2, 2009

SP500 profits are up

Good solid news for the economy. On other online venues, I’m known for my high optimism for the recovery of the US economy. As reported by CNN Money, the recovery is producing profits for key SP500 corporations – the companies that are in the best position to tell us if the economy is on the rebound. Apparently, this is the case.

For a little perspective, one should also note that only a year ago people were trembling in their boots that we were headed toward a 1930s style depression. Thanks to an unprecedented balancing act by two Presidential administrations and an uncharacteristically cooperative and speedy Congress, we ducked that bullet. Okay, we ended up with the Great Recession – but really, it cannot be understated how badly things could have gone.

Of course now comes the hard part… sustaining that growth and building back the jobs. Stay tuned! - HP

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