Saturday, August 28, 2010
Corporate Profits: All Time High
1. Nominal corporate profits in the second quarter reached almost $1.2 trillion, which is an all-time record high, and 54.5% above the recent bottom of $774.6 billion in the fourth quarter of 2008.
2. Nominal corporate profits have now doubled in less than ten years, from $600 billion at the end of 2001 to the current level of $1.2 trillion. The S&P 500 Index is actually lower now 1047) than at the end of 2001 (1148).