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tomtoolbag
Veteran Advisor

Corporate profits

  Here's an article that I came across, and I posted a figure from Politico recently that; from Jan. 2009 through June 2010, corporate profits increased 62%, the strongest 18 month rise since the 1920s.

 

http://finance.yahoo.com/news/Corporate-Profits-Were-the-nytimes-3994329548.html?x=0&.v=1

 

Corporate Profits Were the Highest on Record Last Quarter

 

  And here's one from Bloomberg.com that says; total U.S. consumer debt fell to $11.6 trillion in Sept. a $110 billion decline from June, and Americans have cut about $1 trillion in debt since consumer debt peaked in the third quarter of 2008.

 

  It seems as though there is a lot of money, unused corporate capacity, and labor sitting on the sidelines. Apparently some people are cleaning up pretty good right now because of the first week of Nov., total insider shares sales totaled more than $2 billion, and no other point in time has surpassed that.

6 Replies
Iowa notiller
Senior Contributor

Re: Corporate profits

When do you think these corporate profits will provide jobs again? What are they waiting for?

tomtoolbag
Veteran Advisor

Re: Corporate profits

  Boy would I like to know that answer too. I look around and the economy doesn't seem to show the statistics that we hear about, but another stat that I have heard is that financial activities account for 40% of profits in this country. It seems as though it's more profitable to shuffle overpriced and fraudulent paper than it is to actually create something of value. History tells us that labor is an inefficient way to multiply money, and we are seeing that play out right now. I am also not naive enough to believe that those same corporations that are awash in profits will pay much taxes, because of various loopholes and favored status that they can claim. Hell, the QE 1, 2, or whatever number it is now, threw the value up of a lot of foreign holdings, and maybe that is factored in too.

  There are a large number of people that are being left out of the economy and it seems as if they don't exist or are even needed. I think that the next 10 years is going to be far different than what we know, or are even expecting.

GreaTOne_65
Senior Contributor

Re: Corporate profits

Isn't it ironical, all of the money spent by the corporations, to defeat this President, he is still trying to fix an economy crippled by the Republicans? The damned ingrates, but never fear, the TeaGOPhers are still the same idiots that got us here in the first place, and they don't have a clue what is needed, short of going along with what the Democrats have proved works, and we know that will never happen, they would have to admit they were wrong.

http://www.msnbc.msn.com/id/26315908/ns/msnbc_tv-rachel_maddow_show#40346303

tomtoolbag
Veteran Advisor

Re: Corporate profits

  Historically, the economy has always fared better under a democratic president than a republican one. Big corporations are sociopathic when it comes to their source of money and always have been too. The one thing that has rubbed republicans the wrong way time and again is that democrats have stepped on their toes and hurt their relationship with the corporate climate and siphoned off money from the republican's cash cow. If you notice, the corporate money that backed the republican party expects to receive some future benefits from it, just like they always have in the past, ergo why they consistently back the republican party. Profits are one thing, but retaining them is another, and history again proves that they do better with that backing republicans instead of democrats.

  The right wing's objections to the bailouts are just rhetoric, much like other things, and they can actually say it because they never have to actually walk the walk. The could-a, would-a, should-a crap sounds good when you don't have to actually do something or perform.

   I call it "armchair politics or policies", just like every guy that stepped into the ring with Mike Tyson will tell you that he should've ducked that one punch......................after he woke up and saw the replay.

bruce MN
Veteran Advisor

Re: Corporate profits

Matt Miller, a conservative in the very most classic sense, refers to Buckley Jr. (staunchly conservative) and to important military  brass (the self proclaimed exclusive proprietary protectors of conservatives and conservative causes):

 

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/24/AR2010112403659_pf.html

 

SNIP: Adam Smith: "The disposition to admire, and almost to worship, the rich and the powerful . . . [is] the great and most universal cause of the corruption of our moral sentiments."

tomtoolbag
Veteran Advisor

Re: Corporate profits

  It's ironic that the military was brought up by that article, because THE GREATEST disproportion of this country and affecting those who ACTUALLY sacrifice on behalf of it was when the draft was done away with. Not only does it provide cover for the elite and politically fortunate, but for their continual offspring as well. If you notice, the "incentives" for enlistment are focused upon benefits that very few people that actually enlist take advantage of. The old carrot on a stick in front of a horse is a good example, but if the horse would run, the carrot may swing towards it, but not with the veteran's benefits, it's as if they are on a telescoping stick.

  I also noticed that when the wealthy were being pampered beginning in 1980, that we were suddenly supposed to worship that wealth, with the show Lifestyles Of The Rich And Famous for an example, that has only multiplied to today's non-stop media coverage of whether Brittany Spears wears panties or not, and the overcrowding of a large jail leads to just one person named Lindsey Lohan to be released.

  I especially like this little subliminal tidbit below that the rest of us should express our gratitude towards our society of great opportunities by volunteering for some good ole indentured servitude, that more than likely contributes in the end result of a corporate profit. The old "give till it hurts" routine for YOU, but not me.

 

 Buckley believed a properly institutionalized expression of gratitude should include incentives for national service for young Americans (an idea worth reviving).