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1. The U.S. Economic Crisis: From a Profitability Crisis to an Overindebtedness Crisis.

Author

Moseley, Fred

Subjects
*FINANCIAL crises, *CORPORATE profits, *PROFIT, *CAPITALISM, *ECONOMIC recovery, *WAGES
Abstract

This paper argues that the fundamental cause of the current economic crisis in the U.S. economy was a significant long-term decline in the rate of profit from the 1950s to the 1970s. Capitalists responded to this profitability crisis by attempting to restore their rate of profit by a variety of strategies, including: wages and benefit cuts, inflation, “speed-up” on the job, and globalization. These strategies have largely restored the rate of profit, but have resulted in stagnant real wages for workers for decades. As a result, household indebtedness has increased to unprecedented levels and must be substantially reduced in order to make possible a sustainable recovery. [ABSTRACT FROM PUBLISHER]

Published
2013
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2. Ready or Not, Here Comes Earnings Season.

Subjects
*FINANCIAL statements, *EARNINGS forecasting, *AMERICAN business enterprises, *CAPITALISM, *CORPORATE profits
Abstract

American Corporate earnings reports, the scorecard of capitalism, will start appearing in April 2004, as companies disclose their first-quarter results. The largest growth rate will come from materials companies like metals, paper and chemicals. They are expected to show earnings growth rate of 75 percent, compared to the first quarter of 2003. Technology earnings are next best. They are expected to show growth of 54 percent, which is pretty much unchanged from the fourth quarter. Consumer discretionary goods companies are expected to see earnings growth of 12 percent in the first quarter, compared with 15 percent growth in the fourth quarter.

Published
2004