SICK JUSTICE

Corporate Profits Were the Highest on Record Last Quarter

"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, 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."

*note Financial LOSSES from crisis OFF THE BOOKS for most (change in mark to mkt accounting by GAO in March 2009!) companies so profits in the SPX represented by any false recording make this a sham, IMHO

Somethng just doesn't sound right to me.....is it the FALLING value of $ when revenue is counted makes the overseas sales SEEM much stronger than they are?

With maybe 8 MILLION having lost jobs how can remaining do all that heavy lifting? GOV HANDOUTS ....which are set to be lost by 4-5 MILLION thru next April.....

D