What’s the Trend in Profits?

(1) Why profits can’t grow faster (or slower) than GDP. (2) Profits’ share of national income may be peaking. (3) Profits are very pro-cyclical because so are revenues and profit margins. (4) Record high for S&P 500 profit margin. Can it go higher? (5) Two ways to squeeze margins: Higher costs vs. lower revenues. (6) The OECD cuts its estimate for world growth. (7) Profits cycle driving the business cycle. (8) Using the value of world exports as a proxy for global GDP. (9) Beware of false slowdown in world economic indicators measured in dollars. (10) Is 5% rather than 7% the new normal?