This video comes via the Reformed Broker Blog....
Ritholtz and the team have been warning about slowing earnings growth for a little while now. Q3 earnings were just abysmal, despite somewhat of an improvement (at least at the margin) in a number of economic indicators. For all the talk about the looming fiscal cliff, what I think is being ignored is the impending earnings and/or jobs cliff, a result of increased regulations and increased costs from the implementation of Obama's healthcare law.
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