By Jody Chudley First quarter earnings season officially kicked off on April 14. What are the numbers telling us so far?
The economy is bad. Really, really bad.
The big banks kicked things off and made it very clear that the world has changed. These companies reported huge hits to earnings as a result of taking billions of dollars of loss provisions to prepare for loans turning bad.
The banks are a bellwether of the economy. Their loss provisions are based on what they are seeing on the front lines from their customers.
It’s no shock that what the banks are seeing is bad. The economic …read more
