Corporate Earnings Have Soared Back To Dot-Com Bubble Highs

Nearly all S&P 500 companies have reported Q3 earnings now and the figures are remarkably high (via Barry Ritholtz).

First note how low corporate earnings dropped in the recession. Earnings fell below the Great Depression low.

Now look how high they are, right back to the dot-com bubble high. The key factor behind the turnaround: layoffs and cost cutting.

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