Bye, Bye Booming Profits: The BEA Just Revised Them Away!

......benchmark revisions had shaved a significant amount from them to begin with. The corporate situation is therefore wildly out of tune with anything like a strong economy. In fact, the new benchmark data and even the latest estimates for the second quarter finally suggest the background behind the BLS’ recent revisions to the labor market data.




David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.