Joshua Brown explains an idea on US high corporate profits, high unemployment and high demand for luxury goods with one graph.
I don't know what the graph looks like if we adjust for inflation, but it may not change much since inflation in recent years is not severe in the US. So his idea may still be valid.
But I like to see the growth rate of earnings, it may tell us much more about the picture and the trend.
Furthermore, this current picture may also signal that the top 1 percent job-holders are doing well, not the truly 'average' one.
CEOs rewarded most for raising unemployment
No wonder US unemployment is stuck at 9.1% when CEOs are paid more than their companies pay in tax – for cutting jobs.
Last year's report uncovered another disturbing trend: some of the best paid CEOs are the ones that lay off the most workers.
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