[lbo-talk] spiked-essays | Zombie anti-imperialists vs the'Empire'by James Heartfield

Dennis Redmond dredmond at efn.org
Sun Sep 5 16:56:54 PDT 2004



> Not persistently - in the U.S., there was a secular rise from 1982,
> with lots of cyclical variation. Profit rates in the EU are pretty
> high too, as far as I know.

I was updating some of my European company data - who knows when I'll be finished, I've got far too many other things to do these days - but EU profits are way, *way* up. Pretax profits for the major Eurobanking groups went from 65 billion EUR in 2001 to 98 billion in 2003; on my much sketchier matrix of non-financial EU firms (I'm still missing a few large firms), pretax profits went from 40 billion in 2002 to 97 billion in 2003, and have continued to climb.

Japanese profit rates also seem to be recovering strongly.

-- DRR



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