Posted on 11/30/2022 12:04:01 PM PST by ChicagoConservative27
Corporate profits in the nonfinancial sector hit a record high of $2.08 trillion in the third quarter even as 40-year-high inflation continues to squeeze American consumers.
Profits adjusted for inventories and capital consumption rose $6.1 trillion from the second to third fiscal quarters, the Commerce Department reported Wednesday, continuing a red-hot recovery from the flash recession caused by pandemic shutdowns.
Following a two-quarter dip in 2020, quarterly profits have surged by more than 80 percent over the last two years, from around $1.2 trillion to more than $2 trillion, adding weight to arguments that the private sector is driving inflation by exploiting consumer expectations to keep prices elevated.
(Excerpt) Read more at thehill.com ...
Shipping costs for containers fell dramatically but the increases remained through third quarter.
It’s the Hill. These economic geniuses don’t want to recognize all of the dollars pumped into the economy by government. The private sector produces goods and services. What does government make? Inflation.
Does this study by “The Hill” include Pfizer, and other government contractors enriched by the pandemic spending? Where’s the outcry for profiteering taxes from the dems?
Yep. Pfizer and Amazon raked it in.
Beat me by 11 seconds.
“Profits adjusted for inventories and capital consumption rose $6.1 trillion from the second to third fiscal quarters” The Hill
vs
” Profits of domestic nonfinancial corporations increased $6.1 billion” from the actual report. https://www.lanereport.com/161091/2022/11/gdp-second-estimate-rose-to-an-annual-rate-of-2-9-percent-in-the-third-quarter-2022/
And the fascism will continue until the profits drop — a lot.
And let’s not overlook this depressing sniglet...
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $31.6 billion in the third quarter.
So any actual profit was made from the selling off of old inventory produced at a lower pre inflation cost.
Those profits, counted in terms of inflated fiat currency, are completely consistent with Bidinflation.
Fish Smell Alert
Corporate profits hit record high in third quarter amid 40-year-high inflation.
How come so many are getting laid off Moe?.
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