Matt Phillips
AxiosThu, 31 Mar 2022 12:00 UTC
© Data: FactSet; Chart: Axios VisualsU.S. pre-tax corporate profits
Corporate profits hit
another record in 2021, though the breakneck pace of growth slowed sharply during the fourth quarter.
Why it matters: This shows that companies have been able to overcome the inflationary wave flowing through the U.S. economy โ and even profit from it.
State of play:
Companies complained loudly about rising costs for raw materials and labor for most of 2021, but data released yesterday by the Commerce Department show that they passed those costs along โ and then some.
- For the full year 2021, pre-tax profits rose 25% to roughly $2.81 trillion, handily outpacing the 7% rise in consumer prices over the same stretch.
Yes, but:
But the pace of growth slowed sharply in Q4, as profits inched up only 0.7% from Q3 (to an annualized pace of $2.94 trillion) โ which could mean that
the long-awaited pinch on profits from higher prices is starting.
Comment: The greed of the establishment and the impoverishment of citizens can only go on for so long before a collapse is inevitable, and it seems that this is at least part of the plan and that the crisis is to be used as the opening to enforce their Great Reset agenda. However, there are a variety of other converging issues that have not been accounted for, and it's possible that all may not play out as planned:
Also check out SOTT radio's:
NewsReal: Bucha False-Flag - Sanctions Gas Theater - BRICS Dismantling Dollar Domination
Freedom and Liberty? You can have it...how about consensus of the citizens or Democracy. THAT....is worth fighting for.
There is a direct line between the newspaper box....and the ballot box....and the bread box....and the pine box.
Mr. Phillips
Canada
Retired