Thursday, April 26, 2012

Vast Majority of U.S. Companies Realizing Huge Profits

It is earnings season, and thus far, a whopping 76% of U.S. corporations have beat expectations for profits.  That will likely be a boon not only for the stock market, but to President Obama's re-election hopes.  The thing to watch is this:  With huge profits, will said companies turn around and grow their businesses by investing in new plants and equipment and hiring American workers, or will they continue to hire cheap labor, thus inflating the unemployment rate?  My guess is the latter.  No matter how many billions they rake in, it's never enough, and they have zero loyalty to their country.

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