[Mase]

Tonelson also said it was unlikely that U.S.-made products were capturing a higher share of foreign markets, which would offset losses at home.

Manufacturing Corporations Seasonally adjusted after-tax profits of U.S. manufacturing corporations totaled $124.3 billion in the third quarter 2006, the U.S. Census Bureau reported. Third quarter 2006 after-tax profits were up $7.3 (+/-0.6) billion from the $117.1 billion recorded in the previous quarter. Third quarter 2006 after-tax profits were up $15.3 (+/-1.2) billion from the $109.0 billion recorded in the same quarter a year ago.

Seasonally adjusted sales for these manufacturers totaled $1,455.2 billion for the quarter, up $15.2 (+/-5.7) billion from the $1,440.0 billion recorded in the second quarter 2006, and up $73.6 (+/-18.9) billion from the $1,381.6 billion recorded in the third quarter 2005.

After-tax profits averaged 8.5 cents per dollar of sales for the quarter, 8.1 cents last quarter, and 7.9 cents a year earlier.

Economic and Statistics Administration, U.S. Department of Commerce

I wonder if Tonelson the omniscient, and his minions of doom here at FR -- who treat his every word as gospel -- can explain how US manufacturing profits are setting records while the sector hemorrhages market share due to our disastrous free market policies.

[Paul Ross]

Your chart's figures fail to subtract the IMPORTS that these "so-called" manufacturers rely on for their asserted production and profits.

And I'm sure that switching to cheap labor imports is highly profitable. I'm not surprised. As the two-to-one trade deficit attests...and further implies that substitution is happening.

But unlike you, I'm also not impressed with the contention that you blindly swallow...that these are in fact "American manufacturers" anymore. Maybe once. But not anymore.

There has been quite a row in the National Association of Manufacturers over just this issue...with the bulk of its members...concluding that the big guys are fronting for the importers...and have co-opted NAM to be an import lobby.

[expat_panama]

Great post ---here's a graph that I just put together:

[cp124]

can explain how US manufacturing profits are setting records while the sector hemorrhages market share due to our disastrous free market policies.

By using 3rd world labor and calling yourself an American company because you have an office here.