Today’s GDP report paints a bleak picture. GDP for the first quarter was revised down to 0.8%. The second quarter of 2016 came out at 1.2%, and will likely be revised lower.
Here is what they also released, but are not talking about:
Corporate profits before and after taxes have also been revised back to the first quarter of 2013. And it is bleak.
Remember that businesses do not go into business just to sell you goods and services. They do so to sell you goods and services to generate profits.
Would you trudge off to work every day to earn less than you did last year? And less than you did two years ago? Or would you make some changes? Continue reading