BUY BUY BUY sell?????
April 14 (Bloomberg) -- The U.S. corporate earnings season got off to an ``awful'' start and stocks will continue to fall, according to Goldman Sachs Group Inc.
``Early signs are awful,'' a team led by New York-based David Kostin, Goldman's U.S. investment strategist, wrote in a note today. ``We expect generally disappointing results and a swath of lowered profit guidance that will drive the Standard & Poor's 500 Index lower in coming weeks.''
Fitch said it is expecting very weak operating and financial performance in the upcoming first quarter 2008 earnings season, and noted that credit metrics continued to decline during the first quarter among key home builders.
“Tangible net worth covenants have been and will be challenged,” said Curran.
The rating agency is set to issue a full report on its expectations for builders, as well as a press conference next week.
Housing Woes in U.S. Spread Around Globe
DUBLIN — The collapse of the housing bubble in the United States is mutating into a global phenomenon, with real estate prices swooning from the Irish countryside and the Spanish coast to Baltic seaports and even parts of northern India.
This synchronized global slowdown, which has become increasingly stark in recent months, is hobbling economic growth worldwide, affecting not just homes but jobs as well.
A SYNCHRONIZED GLOBAL SLOWDOWN?????
EARLY SIGNS ARE AWFUL?????
CREDIT METRICS CONTINUE TO DECLINE....TANGIBLE NET WORTH COVENANTS WILL BE CHALLENGED????
Any trends developing? Havn't some of us been saying this for months and months. What has changed. Except now more and more people are starving around the world. More and more people are losing their jobs. More and more governments are on the brink of bankruptcy. More and more banks are shutting down. More and more business are no longer in business. More and more homes are being foreclosed. More and more truckers are pulling off to the side of the road.
When your profits were based on making loans that couldn't be paid back....once you stop loaning there go the profits.....FOR EVERYONE!!!!!!