Earnings Normalized -- NOT!

from The Big Picture blog:

I am becoming terribly enamored of the charts Ron Griess highlights each week form The Chart Store. Now that earnings season is all but over, Ron looks at a few charts that are revealing of the extent of the damage done to corporate profitability. It is, in a word, breathtaking:>

How Cheap Are Stocks?

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How Much Have Profits Fallen?

It appears that we have learned nothing about risk from our past experience. We're going to have to learn the hard way!