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Reply #56: Cheery Chart: No Corporate Profits for Two Years During Depression [View All]

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-11-09 12:03 PM
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56. Cheery Chart: No Corporate Profits for Two Years During Depression
http://www.nakedcapitalism.com/2008/11/cheery-chart-no-corporate-profits-for.html

In case you are starting to look to past crises for clues as to how our financial mess might play out, here is a Great Depression factoid. From Levy Forecast, November 2008 (hat tip reader Scott, no online source):

http://1.bp.blogspot.com/_rWY3qGfe6gc/SSj11vlEuMI/AAAAAAAABcg/PedhAUXkRtw/s400/Picture+2.png

Note that the report itself argues that the US will have a "contained" depression, with deep recession conditions for a protracted period and an anemic recovery. It does not believe the zero operating profits pattern of the Great Depression will be repeated.
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