With today's release of the first revision to Q3 GDP, we got fresh data on corporate profits.
It turns out that corporate profits hit a brand new all-time high in the quarter. The chart is just astounding. (Via Catherine Rampell).
Another way to look at this chart is corporate profits as a share of GDP which is a pretty decent proxy for profit margins. Once again, brand new high.
And for the flipside, here we add total wages as a share of GDP, which has fallen to a new low.
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