If everyone is so worried about S&P earnings coming from overseas why aren’t they worried that something like 60% of the growth in the SP is coming from the same place. Got growth?
I think people are worried about the dollar losing value, not S&P earnings from overseas.
If the dollar falls 50% in value and KO makes 100% more overseas profit due to this (because of currency translation), they haven’t really earned anything but the right to pay more taxes on that “extra” $US revenue.