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Fortune magazine reports on corporate revenue:

Last year, Fortune 500 sales fell 8.7% to $9.8 trillion, the largest percentage decline since 1983.

And yet profits soared:

For 2009, the Fortune 500 lifted earnings 335%, to $391 billion, a $301 billion jump that’s the second largest in the list’s 56-year history….The 500’s profits virtually returned to normal after years of extremes — bubbles in 2006 and 2007, collapse in 2008 — despite a feeble overall recovery that’s far from normal.

So corporate profits tripled during a recession year in which sales fell 8.7%. Has that ever happened before? The key to this, of course, was layoffs: “In 2009, the Fortune 500 shed 821,000 jobs, the biggest loss in its history — almost 3.2% of its payroll.” In other words, we have now been through a recession in which, essentially, nobody has really suffered except for all the workers who have been let go. Wall Street is doing great. Corporate profits are doing great. The stock market is recovering. Is it any wonder that Republicans don’t really care about any further fiscal stimulus? Their constituency is doing fine, thankyouverymuch.

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IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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