FAST FIVE: Corporate Profit Growth Will Slow, Says The Fed

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He presents the following graphs to support his case.

The graph below is a proxy for margins.

The last time margins were as high as current levels were in 1929.

The Financial Times recently reported that “More than a third of Republicans and Democrats today believe violence is justified to achieve their political ends.”¬†Nobody can predict the future, but this hardly seems to be a backdrop to sustain profit margins last seen in 1929.

Sourcing labor to allies may be cheaper but still more expensive than it has been.  Further, stricter immigration policies make cheap labor from new immigrants less available.

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