Corporate America Posts Best Quarterly Profit In US History

As if you needed more evidence of how these cats are plundering everyone while most of America remains asleep, here you go:

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 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.

I'm all about people being successful, but this is such a blatant example of how the middle-class is being bent over, right out in the open. "Squeal like a pig!"

Full Article

reply to post by NthOther


Of course profits are up, the cost of labor has dropped dramatically with all of the layoffs/firings.

Thats extra revenue that isnt being allocated to the cost of labor.

No surprise here.

Originally posted by BigTimeCheater

Of course profits are up, the cost of labor has dropped dramatically with all of the layoffs/firings.

Exactly. They took what they could while they could, using the ignorant masses to do it. When they completed their pillaging, their "workers" were no longer necessary and were tossed to the wolves.

reply to post by NthOther


If the business is still operating and turning a profit, those laid off works were indeed unnecessary.

Nothing wrong with cutting expenses in the business sector.

reply to post by BigTimeCheater


..OR ....

They simply fired the US workers, hired cheaper workers elsewhere and kept the profit.

Originally posted by Frogs
reply to post by BigTimeCheater

 

..OR ....

They simply fired the US workers, hired cheaper workers elsewhere and kept the profit.

Very true.

Either way, it was a smart business decision.

i 'm late to the party, but when i seen this disclosure at 6AM on yahoo news...my first thoughts were that
the Corporations are inherently profit-making-machines...and are way, way overpriced for the services they provide.

see, for the last 12-18 months, as the business world contracted and individuals pared back their
supposed 'needs' to just the essentials...it became obvious that the whole US economy is in need
of a sizeable 'DEFLATION'...

To-Wit.... paying $50+ per month for basic cable TV...or $35+ for cell phone minutes..or even $1.39 lb
for whole fryer-chicken....all all overpriced by 200% from their MSRP...

the FED is manipulating the structual economic system to experience a round of heady INFLATION
(presumably to re-ignite buying/hiring/spending)
whereas DEFLATION is the needed Order-Of-The-Day...

but TPTB...with Bernanke as the frontman..are busy doing their best to screw-up even more

Originally posted by BigTimeCheater
reply to post by NthOther

 

Of course profits are up, the cost of labor has dropped dramatically with all of the layoffs/firings.

Thats extra revenue that isnt being allocated to the cost of labor.

No surprise here.

see my reply above this...

OK, if it didn't take that much labor & manhours to provide the corporations service...
then by all means the cost of the service should proportionately go down also..

but the coprporations are not doing that... they still overcharge for their service/product
and the less-enlightened consumers cannot make the connection that the 'cost'
includes mega bonuses, excessive compensation, over hiring, built into the price of the service...

All of the Above->in addition to a guaranteed 10% 'Profit' ---> how is any of this FREE enterprise !!??





refuse to purchase all the discounted flat screens & other electronic gadgets this "Black Friday"
---the kick off of the holiday buying season...
don't youse get it ??
buying their reduced inventory is like the distressed residents stealing TVs during Hurricane Katrina...
a fools path, at least

what-cha gonna do when the grid is unaffordable to them without a job or resources?
watch that blank plazma screen... notebook on an unaffordable wireless card?

drive a $40K+ 'chevy VOLT' to a non stocked grocery, after a day at the non-job?

reply to post by NthOther


heres a 2nd source:

Corporate Profits Were the Highest on Record Last Quarter


t'NYT', CATHERINE RAMPELL...On Tuesday November 23, 2010, 3:22 pm EST

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,

finance.yahoo.com...

this is the article referred to in the 1st post i made earlier

Anyone think that the massive printing ( or QE if you prefer newspeak) that has devalued the dollar recently might also have something to do with the record profits?