[lbo-talk] Austerity In The Face Of Weakness

[Eric Beck]

On Tue, Aug 31, 2010 at 11:24 AM, Julio Huato <juliohuato at gmail.com> wrote:
> The 2007-2009 period was
> particularly dreadful.  The BEA figures are revised all the time (and
> I'm not the most disciplined follower of their stats), but my
> understanding (and Doug could correct me if I'm wrong) is that the
> corporate profit share declined until the last quarter or second half
> of 2009, and from then on it's been going up.

Thanks for posting this, Julio. Did you see the extract from Carlo
Vercellone that I posted here yesterday,
<http://mailman.lbo-talk.org/pipermail/lbo-talk/Week-of-Mon-20100830/011349.html>?
I think what you are getting at here is what Vercellone calls "a model
of profit without capital accumulation." I think.

If it is, my next question is, what does it mean to have profit
without accumulation? That is, what does it mean for the future?