Growth statistics hide underlying inequities.

The answer depends on two key variables the discount rate and future earnings growth. A lower discount rate and or a higher rate of expected earnings growth would justify higher equity valuations.

In my view, it is difficult to make a strong case for a significant sustained increase in earnings growth in this environment, meaning that growth alone would not justify current equity valuations. But the lower discount rate argument is more persuasive, and is consistent with underlying economic conditions and central banks mandates.

Issues that exist in French German relations also reflected differences in the underlying economic growth of the two countries.

Family earnings

Earnings related

While expectations of faster earnings growth may well be contributing to elevated P E levels, the current situation is complicated, to say the least. What is certain is that expectations of high earnings growth would have a more durable positive effect on P E levels than the suppression of the equity risk premium.

It will examine the factors underlying the recent growth performance in a number of African countries and assess their sustainability.

Additional earnings limit

Instability of earnings

Yet another reason for the correction is that valuations in stock markets are stretched price earnings ratios are now high, while growth in earnings per share is slackening, and will be subject to further negative surprises as growth and inflation remain low. With uncertainty, volatility, and tail risks on the rise again, the correction could accelerate quickly.

On the contrary, the real question is why the increase in stock prices has not outpaced growth in corporate earnings. After all, in the 1990 s, the US stock market surge (as in many countries) was fueled by record high price earnings ratios.

Such forecasts, however, misrepresent underlying demographic dynamics. The future we face is not one of too much population growth, but too little.

And with your earnings...

But if we look at asphalt as our growth, then we realize that all we're doing is destroying the planetary's fundamental underlying operating system.

Underlying context

Underlying principles

No limit to additional earnings.

That said, some trends may be having the opposite effect on expectations for earnings growth. More than two fifths of the S amp P 500 s earnings come from external markets, some of which, like Europe and Japan, are barely growing, while others, like China, are slowing.

In China, for example, rapid economic growth after the late 1970s was associated with a significant rise in inequality. Roughly half of the increase was the result of urban rural earnings gaps, which also acted as the engine of growth.

Intel's fourth quarter earnings 10.8 billion.

Underlying Risk Factors

These trends depend very much on underlying assumptions about economic growth, global population, the costs of technologies and different primary energy sources, and other similar factors.

While there would be virtually no real growth in resources for the budget as a whole, a range of underlying adjustments have been taken into account.

But a realistic assessment of growth prospects is precisely what is needed right now to design appropriate and feasible policies. Gordon s point is not that growth will decelerate in the future, but rather that underlying productivity growth moved to a sharply lower trajectory around the year 2000.

52. Consequently, in order to achieve economic growth in the developing countries, their commodities must have access to international markets so as to bring about an increase in export earnings.

By contrast, many emerging economies, highly dependent on commodity export earnings, have been stressed by the commodity price reset, sluggish growth in developed economies, and slower growth in China. Capital flight would materially add to their plight in some cases disastrously so.

God give you good earnings, good man.

And underlying these questions,

The main culprit behind the languishing fortunes of America s middle class is slow wage growth. After peaking in the early 1970s, real (inflation adjusted) median earnings of full time workers aged 25 64 stagnated, partly owing to a slowdown in productivity growth and partly because of a yawning gap between productivity and wage growth.

Corporate earnings in the first quarter improved sharply.

Official earnings average 1.5 to 2 per day.

The pension is, however, earnings related (see below).

Least developed countries export earnings are also small.

Underlying context 19 26 7

The consequent instability in export earnings has adverse effects on domestic savings and government budgets, as well as on the import supply of intermediate and capital goods and hence on investment and growth.

Five year real earnings growth on the S P 500 set an all time record in the period ending in the first quarter of 2007, at 192 . Before that, between the third quarter of 2000 and the first quarter of 2002, real S P 500 earnings fell 55 the biggest ever decline since the index was created in 1957.

(b) The pension based on minimum earnings is maintained.

The disability benefit is neither earnings related nor taxable.

The compensatory allowance is payable in the amount of the difference between earnings received before the lowering of capacity for work and earnings received afterwards.

The agricultural sector, which accounts for 50 per cent of gross domestic product and provides over 80 per cent of export earnings, is likely to remain the primary source of medium term economic growth.

But there was an underlying support.

(d) Reduce the underlying risk factors

Other factors underlying the budget proposals

A. The underlying concern and purpose