1:15 pm November 23, 2010, by Jay
“The nation’s workers may be struggling, but American companies just had their best quarter ever.
American businesses earned profits at an annual rate of $1.66 trillion in the third quarter, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or non-inflation-adjusted terms.
Corporate profits have been going gangbusters 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.”
I know what you’re thinking: You want to see a chart.
I still know what you’re thinking: If only President Obama and the Democrats weren’t so darned anti-business. If only corporate America was making enough money to pump back into the economy. If only we could free up business and make it possible to earn a profit again.
If only ….
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