10 companies account for 88% of S&P 500 growth.
I told you we needed to look at those numbers closely to get the real story.
Quote:
(SLATE) — A striking chart from Morgan Stanley’s Adam Parker shows that 2012 earnings growth among S&P 500 companies was highly concentrated, with 88 percent of it coming from the top 10 firms. I was even more struck by the inequality within the top 10. Just four companies—Apple, AIG, Goldman Sachs, and Bank of America—together provided a majority of overall earnings growth among large-cap companies.
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Not only that but Apple, one of the largest contributors to these numbers is already floundering.
We are not on solid ground, the economy actually contracted last year and we are being hit by a multitude of middle class taxes while small business (the biggest contributor to the GDP) is under attack by the Obama Administration and Obama himself is pushing for more taxes.
Please wake up people.
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