Back to the ugly economic reality.....

[marmar]

Look at the happy headlines on MarketWatch today:



www.marketwatch.com


November 6 2008 9:07 A.M. EST

Jobless gauge at 25-yr. high
Continuing claims hit a seasonally adjusted 3.84 million in latest week.
• AMD laying off 500 | Cadence Design cutting headcount by 12%
• Dana to cut loose 2,000 workers more than previously planned
• Wall Street bonuses to fall by 20% to 50% (wsj.com)

indications
Cisco helps set dreary tone
Tech bellwether's top-line caution puts stock futures deep in the red. Investors pooh-pooh latest European interest-rate cuts.
• Third-quarter productivity up 1.1%; growth in labor costs contained
• Europe stocks drop sharply | Asian shares take a beating
• Stocks to watch | Crude futures down another 2% | Treasurys gain

....

AUTOMOTIVE
Toyota cuts outlook
As first-half profit falls fully 48%, Japanese giant takes stock of difficult conditions in U.S. and Europe.
• Big losses on tap for GM, Ford | AutoNation's loss tops $1.4 billion
• Big Three plead their case on Capitol Hill (wsj.com)


MEDIA
Bad News
News Corp.'s shares slump on downgraded forecast.
• Time Warner cuts forecast as profit dips | Virgin Media loss widens

[MadrasT]

1. Election Euphoria isn't going to fix this economy

It's way too broken for that.