Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — From Oysters to Damp Squib: How the World Has Changed for Corporate America: A world more squib than oyster could put at risk the global earnings and the future profitability of many U.S. multinationals.
  
  
• Market View — The Growing Importance of a Very Mixed Economy: Welcome to a very mixed economy, a concoction likely to backfill growth and company earnings in hopes of further diversifying and adding to the dynamism of the U.S. economy.
  
  
• Thought of the Week — Social Security: Some Good News for Now, But Trouble Ahead: As the Social Security trust fund reserves continue to decline, the cost of shoring up the program for future retirees will only increase.