WTF, Americans?
"Company profits rise as joblessness persists" by New York Times / November 24, 2010
NEW YORK — The nation’s workers may be struggling, but US companies just had their best quarter ever.
Businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report released yesterday.
Yeah, that is TRILLION with a T -- and matches the Feds purchase of mortgage-securities s*** in the first round of stimuloot!
That is the highest figure recorded since the government began keeping track more than 60 years ago, at least in nominal or noninflation-adjusted terms....
Then WHERE are the JOBS?
Corporate profits have been doing extremely well for a while.
Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history.
And WHO GOT LEFT BEHIND, 'eh, Americans?
As a share of gross domestic product, corporate profits also have been increasing and now represent 11.2 percent of total output....
So the GDP numbers are just RIGGED PoS?
This breakneck pace can be partly attributed to strong productivity growth — which means companies have been able to make more with less — as well as some of the profits of US companies coming from abroad.
In other words, government and business are JIGGERING the NUMBERS taking FOREIGN ECONOMIC GROWTH and incorporating it into the DOMESTIC NUMBERS.
US economic conditions may still be sluggish, but many emerging markets like India and China are expanding rapidly....
Yeah, there is where the JOBS WENT!
--more--"
