I think the p/e ratios are outlandish too, but believable in this reinflation rally. at some point we are going to come crashing back down ...
Of course its Artificial, how else are they keeping the global economy and marketplace propped up, its all being done artificially to show that growth is coming back when in reality its far from turning around anytime soon. The biggest credit crisis in history is over with in 6 short months, haha come on, lets be real here. Everyone is calling for 2-4% GDP by 2010, how this is possible is beyond me but thinking that trillions and trillions of dollars being injected into this upside down economy actually can push GDP higher is a certain possibility. Im just questioning if the economy can sustain such growth without 0%%%%%% interest rates, without the trillions and trillions of monopoly money being thrown at a worthless economy, a collapsing dollar and all these programs put into place to keep foreclosures limited and buyers coming back in for an $8000 tax credit.
Thats the problem, everyone thinks that last quarters earnings were spectacular, however it was all cost cutting driving earnings.