Earnings Will Be Bad, But What's Ahead Matters More

Of course, markets discount economic condition about 6mos ahead -- forward looking mechanism. Big firms have forecast the current economic disaster during 2007-2008 including commercial and residential R.E. disaster, as I also noted it as well. I warned on ARM R.E. disaster since Jan 2006 as well. Using RBS news to sell-off markets is just another market manipulation to make money from short-side: Market hype going up and down.