As the earnings season kicks off today for U.S. companies, there is going to be a common theme for those with operations in Europe. What we will be hearing is guidance that is weaker than expected due to a slowing global economy, in particular Europe.
U.S. companies will be facing a double-whammy scenario going forward, that will materially impact their earnings and give more cause for concern (which will slow hiring "growth"). Not only will U.S. companies be hurt by a slowing European economy, but will get hit again by the falling Euro. Due to this likely scenario, I am not optimistic on where the global economy is headed.
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