Canada's economy just shrank, but corporate profits hit a record 27-year high

[gore0bsessed]

Canada's economy just shrank, but corporate profits hit a record 27-year high | Press Progress

We've got good news and we've got bad news. First, the good news: Corporate Canada's profits have hit a 27-year high, according to a new report by CIBC World Markets. Bay Street has never been happier, right?
Well, there's just one little catch: new Statistics Canada data shows the Canadian economy shrankin January. All those layoffs and store closures you've been hearing about lately? "Ugly" retail sales? That stuff.
StatsCan reported Canada's GDP fell 0.1% in January (that's the total value of all the goods and services within a country -- often looked to as a sign of economic health). By contrast, CIBC reported that corporate profit margins hit a record 27-year high in the fourth quarter of 2014.

 

[Tecumsehsbones]

Excellent. Our plan is going very well indeed.

The part we didn't expect was that when it was revealed to the chumps, they wouldn't object at all, except for a handful of Occupy losers. Hell, half the world thinks it's great we're reducing them to penury and peasantry!

 

[taxslave]

Note that the profits were for the last quarter of last year while the decline in GDP is for the first month of this year. Nothing at all to compare there.

 

[pgs]

Note that the profits were for the last quarter of last year while the decline in GDP is for the first month of this year. Nothing at all to compare there.

Shhhh yikes why ruin a good story .

 

[Angstrom]

Well the top corporate still produced a whole lot of production.

That's right, corperation supply a product that is in demand.

That's why they make money . They work hard everyday at producing something of value. and so they are rewarded with money. Go figure

 

[gore0bsessed]

Well the top corporate still produced a whole lot of production.

That's right, corperation supply a product that is in demand.

That's why they make money . They work hard everyday at producing something of value. and so they are rewarded with money. Go figure

Yeah I don't think that's the point numbnuts. The corporate owners profit to the detriment of the workers and the economy.

 

[captain morgan]

You expect the corps to put up all the cash and donate their good to The People?

 

[gore0bsessed]

You mean their workers? The people who make them the money in the first place?

 

[captain morgan]

So, the wages and payments are of zero benefit then?

Besides, shouldn't The People be happy about providing productive for the glory of The State?

 

[mentalfloss]

You expect the corps to put up all the cash and donate their good to The People?

Of course not.

That's why we tax them.

And before you give me the excuse of passing the buck onto the consumer, there is always competition that is ready to work for higher revenues instead of taking the easy way out.