[Marxism] US profits collapse in 4th qtr

Patrick Bond pbond at mail.ngo.za
Thu Mar 26 08:05:38 MDT 2009


Steve, is there anything in the data breaking down fractions of capital 
into finance and real, and which areas of the real economy are taking a hit?
Thanks,
P.

Steve Palmer wrote:
> In the fourth quarter US profitability collapsed dramatically according to todays GDP and corporate profits press release from the BEA.
>
> Total corporate profits in the fourth quarter, at an annual rate in billions of dollars, were $1,264.5, an *absolute fall* of *16.5%* from third quarter profits of $1,514.8. This is the steepest fall in quarterly profits since fourth quarter 1953. Year on year, profits fell by 10.1%, steepest since 1970.
>
> Confirmation of the importance of imperialism to US capitalism's profitability is that receipts from rest of world were $479.8, 39.7% of total profits.
>
> http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408f.pdf
>
>
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