Corporate profits reach record high; poverty highest since 1959

The fact that we have a jobless recovery has been lost on no one. But the scope of the recovery in corporate profits is better than I had thought. Economix reports that they have rebounded to all time highs and has a nice graph as well:

And while companies are doing well poverty has increased in America as well. The Economix reports:

Despite a steady rise in unemployment throughout 2009, America’s poverty rate didn’t rise as much as some analysts had feared. Still, at 14.3 percent, up from 13.2 percent in 2008, it represented 43.6 million people, the highest number of people in poverty since the Census Bureau began publishing estimates in 1959.

The rich get richer and the poor get poorer.

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