Just in case I haven't made it clear: I hate adjusted numbers.
They are bullsh!t.
Corporations don't report revenues in seasonally adjusted numbers, so I fail to understand the benefit of headlining econ fundies in seasonally adjusted numbers.
This current run is just plain stupid.
Why is the market on a run with mass job cuts continuing and unemployment being widely & overtly touted as continuing to worsen from 9.5% to 10% (which means it will probably get worse than that)?
Corporations are as lean as they are likely to get from both an employment & inventory vantage point.
Productivity/revenue per employee is as high as it is likely to get.
If the stimulus spending out-paces housing induced credit loss spending then any additional revenue that comes corporate ways will add to the top line while expenses/labor remain level will show up as additional earnings.
Viewed in that light, the run is justifiable.
