Evening Must-Read: The All-Time Record Corporate Profits Share

Steve Goldstein: What bubble? Corporate profits reach new record as share of GDP:

One can make an argument about the stock market being overvalued, but the corporate profits that should underlie valuations are certainly in pretty good shape…. There are a number of profit measures in the report, but the one shown in this graph, adjusted after-tax profits…. As a percentage of GDP, corporate profits reached a record of 10.8%.