Victoria takes a step backwards

[Michaelangelica]

Carbon tax site
http://www.carbontax.net.au/

USA corporate profits are higher than they have been since WW2
(Perhaps because they own all the Australian Banks?)

[ecodharmamark]

...Perhaps because they own all the Australian Banks?

And a large percentage of its natural resources, too?

BTW, Michael, thanks for the website link.

[Pakanohida]

USA corporate profits are higher than they have been since WW2

Really? I am not sure about that and here is why.

Oil companies raise prices, they decided they want a new Aston Martin (Only 2.3 Million$) fleet.

Farmers get screwed, they need to raise prices because of "inflation," & because everything they need suddenly costs more.

Shipping Companies now not making as much need to raise prices to make the same profit margin they were. Higher price on the food now then when it left the farm 30 seconds ago.

Supermarkets and stores now mark up the farmers food even more now because they need to make the same profit margin or better.

Well now the Oil guys need to raise prices again because they didn't pay for the last 3 cars they wanted.

repeat as per above.



Granted, my example above is very glib, but it is how I see the economy has been world wide since I was born into this incarnation. The only way to escape such a bullshit system is to grow your own food and opt-out of the bullshit.

Follow what I mean?

[Michaelangelica]

Maybe I was wrong, perhaps i should have said the highest profits ever in recorded history

The chart above shows after-tax corporate profits for U.S. corporations as a whole, which set a new record high in 2011 of more than $1.5 trillion, and were 20.5% above the pre-recession peak of $1.26 trillion in 2006 (adjusted for inflation)

http://www.dailymarkets.com/economy/...-high-in-2011/

NEW YORK -- Despite high unemployment and a largely languishing real estate market, U.S. businesses are more profitable than ever, according to federal figures released on Friday.

U.S. corporate profits hit an all-time high at the end of 2010,

http://www.huffingtonpost.com/2011/0..._n_840538.html

The 9.9 percent increase in earnings last year wasn’t enough to spare the S&P 500 from its smallest annual move since 1947, leaving the valuation measure at 13.6 times reported profits on the last day of 2011, 20 percent below the average since 1954, data compiled by Bloomberg show. Since then, the price-earnings ratio climbed to 14.6, about 11 percent below the historic mean.

http://mobile.bloomberg.com/news/201...itive-earnings

U.S. companies are growing stronger. Corporate profits are at an all-time high. Companies are sitting on mountains of cash – more than $2 trillion among the S&P 500 companies alone.

http://www.thefiscaltimes.com/Articl...012.aspx#page1
“

Between the second quarter of 2009 and the fourth quarter of 2010, real national income in the U.S. increased by $528 billion. Pre-tax corporate profits by themselves had increased by $464 billion while aggregate real wages and salaries rose by only $7 billion or only .1%. Over this six quarter period, corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income.

http://thinkprogress.org/economy/201...fits-recovery/

The ratio of corporate profits to wages is higher than it's been since before the Great Depression. And even as corporate salaries and perks keep rising, the median wage keeping dropping, and jobs continue to be shed.

http://www.marketplace.org/topics/ec...-class-warfare

[Pakanohida]

Exactly, it constantly goes up but in a sense it is still the same price. It's like a grand illusion.

[Michaelangelica]

Exactly, it constantly goes up but in a sense it is still the same price. It's like a grand illusion.

Even adjusted for inflation profits are at an all time high, as are CEO/exec salaries. Yet they all seem to be crying poor and not hiring