and note - although they can say "all economic output" is around 17 trillion dollars, ALL corporate profits are about $3-4 trillion per year, and around half of that used to be from the financials!



"Aggregate profits of S&P 500 companies may decline 15% in 2009 after dropping an estimated 12-14% this year, according to Oxford Analytica. This is in stark contrast to consensus Wall Street expectations of a profit gain of 17% next year after a drop of 6% this year. OxAn believes current consensus estimates are far too optimistic given the weak global economic outlook."

http://www.researchrecap.com/index.php/2008/11/19/us-corporate-profits-could-decline-15-in-2009/