Is The US Profit Recession Finally Here?

Those of a bearish persuasion have waited six months (at least) for concrete evidence to support the contention that US corporate profits, bedeviled as they should be by gale-force margin headwinds, are destined for some manner of reckoning. Such calls grew louder in the lead up to Q2 earnings, and were quite shrill by the time Q3 reporting season rolled around. Although cracks emerged in last quarter's results, some of America's corporate heavyweights defied dire predictions. "Ironically, it