One can surely say this when the Richest of Richest also start suffering and start declaring their losses..
I am talking about Warren Buffet -What's the Advice from one of the richest people living?- whose firm Berkshire reported first quarterly loss since 2001's third quarter when the company suffered large insurance losses as a result of the Sept. 11 terrorist attacks. Warren Buffett's company reported a US$1.5 billion first-quarter loss as it wrote down its ConocoPhillips investment.
Toyota is reporting a 436.94 billion yen (US$4.41 billion) net loss for the fiscal year through March, a larger loss than it had forecast and its worst result in company history.
Royal Bank of Scotland on Friday reported a first quarter loss of 857 million pounds, and the bank's chief executive said the company faces two very tough years ahead.
Telecom Corp., New Zealand's biggest listed company, on Friday reported a 40 percent fall in nine-month net profit to 322 million New Zealand dollars ($191 million) from a year earlier due to tougher competition and lower profit margins.
IMF has recently been revising the predictions of the economy starting to come out of the doom from the previous 2010 to little later in 2011. This is something alarming as most of the corporates have been keeping tabs on their investments & planning on their new projects, have been saying that they are expecting the reserves to last only for next 6-8 months unless things start improving soon.
One can only wait and watch......................