As one reads the newspapers (uncritically), one would assume that business is booming. We have just read about the third quarter in a row of impressive earnings growth. Total corporate profits are on the order of $ 1.2 trillion, way higher than before our devastation. First caveat- we are comparing these results to pretty anemic periods. If you were running your company and had a 50% drop in profits for one year, the next year’s earnings growth of 100% would mean you were back to just where you were two years ago.
Continue reading Profits Don’t Provide the Whole Picture
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