If you have "no place to go," come here!

And we get?

Corporate Profits Were the Highest on Record Last Quarter And a copy edit for Catherine Rampell:

The nation’s workers may be struggling, but American companies just had their best quarter ever.

Not "but." "And."

NOTE And plenty of quotes from extremely qualified economists normalizing 10% noiminal (20% real) DISemployment.

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Submitted by Hugh on

What is interesting is that Rampell doesn't have a very good explanation for the size of those profits. She throws out increased productivity and profits earned abroad. In other words, she's casting about. How can corps have record profits under current economic conditions. Housing is dead. Retail sales never came back. Companies that make profits abroad usually keep those profits abroad for tax purposes. Commercial credit has been tight for most companies. So I have to wonder if the real story is that a lot of corps are cannibalizing themselves. I wonder what their investment levels are. If they aren't plowing money back into plant and research, then they can jack up profits (and those soon to be coming end of the year bonuses) for a while, before they collapse.

Izvestia as you call it is just not paid to look at anything beyond the surfaces and bright shiny objects.

Submitted by gmanedit on

I just saw "Inside Job." The best part was the interviews of the economists. They're really stupid! Impressively stupid!