And, yes, I DO take it personally: Q3 2010 saw the largest corporate profits in recorded US history

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And, yes, I DO take it personally

Wednesday, November 24, 2010

Q3 2010 saw the largest corporate profits in recorded US history

as a follow-on to the previous post, we offer this...

Even amid the most turbulent economic conditions since the Great Depression, US corporate profits are at an all time high, according to a Tuesday report [PDF link] by the US Bureau of Economic Analysis.

At the same time, America's poor and middle classes are under siege, with a mostly stagnant job market that has shown only marginal signs of improvement.

In spite of meager growth in some sectors, the real unemployment rate remains high, at approximately 1 in 5 Americans.

Yet for seven fiscal quarters running -- since President Obama's election -- American corporate profits have shown strong growth.

According to a New York Times analysis, Q3 2010 saw the largest corporate profits in recorded US history, at $1.66 trillion.

this is so wrong on so many levels...

Labels: bailout, corporate military industrial government complex, elites, profiteers, super-rich, unemployment