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Wake up! European earnings have been 'disastrous'

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This quarter's European earnings season has been 'disastrous' according to BGC Partners' Market Strategist, Michael Ingram. He says you've got to go back four or five years to see anything like it. His comments may make you rethink your equity strategy. 
Ingram says he's very concerned about Europe as a whole. He calls central bankers a 'busted flush' who won't be able to do much to save the markets in the future. And he doesn't understand why we're paying heavy multiples for companies that simply aren't growing.