Re: [Marxism] US profits collapse in 4th qtr

[Steve Palmer <spalmer999@xxxxxxxxx>]

--- On Thu, 3/26/09, chegitz guevara <absynthe@xxxxxxxxx> wrote:
> On Thu, Mar 26, 2009 at 9:23 AM, Steve Palmer
> <spalmer999@xxxxxxxxx> wrote:
> >
> > Confirmation of the importance of imperialism to US
> capitalism's profitability is that receipts from rest of
> world were $479.8, 39.7% of total profits.
> >
> >
> http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408f.pdf
> 
> I would also note you neglected to mention receipts *to*
> the rest of the world, i.e., what we're paying out. The adjusted
> rate is: $395.9 billion, or 31% of net profits.
So? All that says is how much worse off US capitalism would be if it didn't 
have the imperial loot to offset it. You are confusing accounting and economic 
categories. The profits sent out of the US did not only come out of US profits 
received from abroad but (mainly!) from US domestic profits. Total profits in 
2008 were $1,476bn. Of those, $152.8bn went abroad, leaving US capitalists with 
net national profits of $1323.2bn. US receipts from the rest of the world were 
$539.4, ie 40.8% of the total.
Look at this like a marxist, not a CPA.

> Also, you fail to mention that the
> numbers are seasonally adjusted, *NOT* total. The *TOTAL*
> profits for
> 2008 were $1.4765 trillion The total profits from overseas
> were $539.4
> billion ($386.6 adjusted for payments).
Again, read what I wrote, very clearly: "Total corporate profits in the fourth 
quarter, at an annual rate in billions of dollars". My main point was how sharp 
the fall off in profits in the fourth quarter had been. To make a point about 
what happens in a quarter, you have to look at what happens in that quarter. Is 
that so difficult to understand? Looking at the annual figures hides this. If 
you think this sort of fall is seasonal ... you just haven't been looking at 
the numbers.

> While Rate of profit is certainly important to
Never mentioned it - a confusion I have taken up in my response to Sartesian.
> understanding imperialism (and keeping in mind that the Feds don't do
> our work for us here, and break down trade by country)
They do! There is a very nice set of interactive country tables at bea.gov 
where you can slice and dice the numbers in every way.

> I think a better measure is looking at GDP.
Why? What matters is not value, but surplus-value production.




      

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