Trickle-Down Economics Is Working About As Well As Usual

From the Wall Street Journal:

Profits at S&P 500 companies jumped an estimated 23.5% in the three months through June, according to data from Thomson Reuters, more than two and half times revenue growth in the same period….“Companies are coming out unapologetically with pricing increases,” said Jim Russell, portfolio manager at Bahl & Gaynor. “That is one of the more optimistic things we see for keeping [profit] margins high in 2018 and into 2019.”

Happy news indeed. Here’s a handy chart so that you can see how this is trickling down to all the rest of us:

I recommend you pass this around to all your friends and ask them to tape it to their refrigerator doors until November 6.

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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