There’s a pattern shaping up in earnings reports. Things you and I might buy, sales are down and profits falling. Up? Military and Armaments companies that sell to the government. Up hard over the last year, but now flattened and threatening a fall on profit not materializing to support the run up, medical and insurance companies wanting to cash in on Obamacare Monopolies…
GM – everyone excited as profits are up! On falling sales… (Oh Dear… )
Apple – Failed to have sales growth and profit growth as expected. Talk of “is it a commodity now”?
Chipole – MAJOR miss with 95% or so drop in profits (lots of give aways to get volume back up, but not working)
Retail in General – falling sales…
Arms Merchants – great profits on lots of sales (Saudi Deal anyone?…)
It’s an interesting pattern. “Friends of Government” and “Suppliers to Government” sales up. Tax payer buys, sales down.
Interesting. If a Republican were in the White House, this would be covered 24x7 by the media.