A Better View of Corporate Profits

Catherine Rampell offers a better view of the profits question which shows they’re high but not the highest ever:

This is all just to say that insofar as business has a problem right now it’s the same as everyone else’s problem. Nominal output (or nominal expenditure or aggregate demand) is way below its trend level, so many of our best-laid plans have gone to ruin. But the Kenyan Socialism era certainly isn’t hammering the business community in any particular way.