[OPE-L:6126] "free fall" of profits

From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Thu Nov 01 2001 - 01:15:45 EST

The current issue of Business Week (November 5) highlights the "free
fall" of profits that is occuring in the US economy right now.  It reports
its own survey of 124 "bellweather companies" that profits have plunged
around 50% from a year ago (p. 44) (this is astonishing!).  It warns that
"things are likely to get worse before they get better."  

It is this plunge of profits that is dragging the US economy into
recession and is threatening to turn the recession into something worse.  


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