It is possible for corporations to have record profits and the economy is still in trouble, because these two things are unrelated. Most of America's largest corporations have foreign subsidiaries, wherever allowed. Profits have also received large cash infusion from the federal tax reduction (12 or 13%), and they're free to bring home foreign profits at reduced tax rates as well. It's a corporate bonanza.
But the goods these companies are selling are made abroad, and shipped home. American workers still haven't had a raise in 40 years, and Americans are now carrying the highest levels of personal and public debt in history, with no end in sight. Interest on your public debt is about to become the single highest government expense - more than Defense, more than the entire social safety net.
So as companies book their highest profits in history, ask yourself why the Americans who work for these corporations are still receiving food stamps, Medicaid, and earned income credits. When Walmart hires workers in Canada, it pays them $14 per hour, plus health taxes, unemployment insurance taxes, Canada Pension Plan taxes, and Walmart is still one of the most profitable companies in Canada.
Ditto McDonalds.
