By Bill Maher
Corporate Profits as a Percentage of GDP
Here's an interesting chart from a guy named Felix Salmon, a financial blogger for Reuters, and my least favorite character on Sponge Bob Square Pants. It shows corporate profits (cp) as a percentage of Gross Domestic Product (GDP).
I call your attention to 2009 -- the
crash -- when the poor babies' profits dropped to 4.5% of GDP, in the
last days of Bush the Unready. Poor brave job creators, just getting by
under that punch-drunk pooch-screwer. The uncertainty they must have
felt! Not to mention feeling unappreciated because of his hostility to
capitalism. No wonder things were bad. Now I draw your attention to the
far right side of the chart, today. Corporate profits equal almost 11% of GDP. That’s the highest they've been since World War II. Higher than the magical 50s, or Reagan's Paradise, or the Dot Com bubble. These are record profits. The last time American corporations made this kind of money, our European competitor was Hitler.
Which raises the question: Why don't our job creators use some of that money to give some poor schmuck a job? I blame Obama.