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Record Corporate Profits Last Quarter!

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posted on Nov, 23 2010 @ 05:12 PM
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Corporate Profits Were the Highest on Record Last Quarter

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.

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 the fact that some of the profits of American companies come from abroad. Economic conditions in the United States may still be sluggish, but many emerging markets like India and China are expanding rapidly.

Tuesday’s Commerce Department report also showed that the nation’s output grew at a slightly faster pace than originally estimated last quarter. Its growth rate, of 2.5 percent a year in inflation-adjusted terms, is higher than the initial estimate of 2 percent. The economy grew at 1.7 percent annual rate in the second quarter.

Still, most economists say the current growth rate is far too slow to recover the considerable ground lost during the recession.

“The economy is not growing fast enough to reduce significantly the unemployment rate or to prevent a slide into deflation,” Paul Dales, a United States economist for Capital Economics, wrote in a note to clients. “This is unlikely to change in 2011 or 2012.”

The increase in output in the third quarter was driven primarily by stronger consumer spending. Wages and salaries also rose in the third quarter, which might help bolster holiday spending in the final months of 2010.

Private inventory investment, nonresidential fixed investment, exports and federal government also contributed to higher output. These sources of growth were partially offset by a rise in imports, which are subtracted from the total output numbers the government calculates, and a decline in housing and other residential fixed investments.

finance.yahoo.com...

Thought you all would like this
edit on 23-11-2010 by camaro68ss because: (no reason given)




posted on Nov, 23 2010 @ 05:37 PM
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reply to post by camaro68ss
 


so, what your saying is corporate america is doing fine????

Americans have no jobs, no money, our sons are dying in foreign countries, and TPTB are telling us to tighten our belts.

Our country owes trillions, our politicians are telling us we need to lower taxes for the upper bracket earners, which includes corporations, and WE are the ones being treated like terroists at the airport???

LOL LOL LOL



posted on Nov, 23 2010 @ 06:01 PM
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Corporate Profits are soaring. Now that a huge percentage of the workforce is layed off, only very productive employees remain. Very productive employees do their work at a very productive rate which means much less waste. Workers are working harder for less pay.



posted on Nov, 23 2010 @ 07:08 PM
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Despite these record profits....we should still give them more tax cuts to create jobs!!!!!!!
I guess the extra billions they are already makign simply isn't enough to create jobs...they need MORE BILLIONS!!!
LOL

If this doesn't prove the BS trickle down economic garbage is BS...well nothing does.

Extend the middle class tax cuts....cut taxes for SMALL BUSINESSES ONLY...and to hell monopolistic international corporations sucking the wealth of this country dry!
edit on 23-11-2010 by David9176 because: (no reason given)



posted on Nov, 23 2010 @ 07:10 PM
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I work for one of these big corporations. Every year, they lay off -- ahem, excuse me -- "Resource Action" people in November to make their EPS look good. It's sickening. The last two years, they also told everyone in my division we'd have to take a substantial pay cut. We got this news the week of Christmas. Nice, eh? The cherry on top was when they reminded us during the same conversation that we're "lucky to have a job." While that's true, it was a little hard to stomach under the circumstances.

I'm actively looking elsewhere.



posted on Nov, 23 2010 @ 07:19 PM
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The sad thing is...we could be moving in an entirely different direction right now as a country. Unfortunately, the news media SCARED IT OUT OF US.

I know everyone likes to blame Obama...but he's powerless against a political environment that is completely owned by Wall Street...whether it is controlled by Big Oil or Green Energy Companies, the financial industry.....etc etc.

When all of the media is owned by major corporations with FOREIGN INTERESTS...their job is to protect THEIR OWN INTERESTS....not the people of this country or anything it stands for.

This includes Fox News, CNN, MSNBC...and any other media network owned by a major international corporation.



posted on Nov, 23 2010 @ 07:22 PM
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Originally posted by camaro68ss
Corporate Profits Were the Highest on Record Last Quarter

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


Hooray for Socialism!



posted on Nov, 23 2010 @ 07:23 PM
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reply to post by camaro68ss
 


Looks like we again know who the winners of recessions are...the same people that laid everyone off.



posted on Nov, 23 2010 @ 07:26 PM
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reply to post by haterproof
 





Hooray for Socialism!


I agree...Obama's Socialism is destroying Corporate America!! LOL



posted on Nov, 23 2010 @ 07:27 PM
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Originally posted by haterproof

Originally posted by camaro68ss
Corporate Profits Were the Highest on Record Last Quarter

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


Hooray for Socialism!


Nah,
With Socialism we'd all still be poor but we'd be guaranteed to always be poor.



posted on Nov, 24 2010 @ 09:33 AM
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im just reporting the facts. I do know the companys are sitting on alot of money and dont want to expand into new markets right now because they dont know where the market is going to go. i think this will help explain the high profits.

you see companys always have expation in there budgets but they dont this year. i dont think your going to be seeing any spending till the end of 2012 to early 2013 thats if we make it past dooms day. lol
so your going to be seeing more storys like this. once the companys have saved all there money and are willing to expand then you will see expanshion. be ready in 2013 because when we get out of the hole you will see the USA markets explode with new groth.
edit on 24-11-2010 by camaro68ss because: (no reason given)



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