UBS warns of problems in third quarter profit, analysts too optimistic on Corporate Profits in third quarter
Alan Hershey
Sep. 30, 2009

The stock markets around the world is well ahead of their valuation levels in anticipation of growth from the borrowed stimulus money. The stock analysts see greener pastures while the crust of the soil is contaminated with toxic assets, excessive debt and governmental interference.

UBS AG warned Wednesday that third-quarter earnings will be hurt by losses on its own credit but said the Swiss bank was on track to slash costs and strengthen its balance sheet.

The net result is that Dow can move up sharply here with a clear blow off mode. This is typical of a bear market rally similar to those seen in 1929-33 great depression times.

Corporate profitability hingees on manipulating the books inabsence of any real pricing power. The core effect is disaster in the long run.

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