The following chart shows the 3-year moving average of corporate profits after tax with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj) divided by personal consumption expenditures.
Click to enlarge.
The local peaks are shown in red.
The long-term median is shown in blue.
Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. - Charles Mackay
Source Data:
St. Louis Fed: Custom Chart
May 10th COVID Update: Weekly Deaths Continue to Decline
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[image: Mortgage Rates]Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
*It is likely that we will see a new pandemic lo...
12 hours ago
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