Recession? What Recession?

Unemployment may still be hovering near ten percent, but corporate profits continue to set record highs. Try saying $1.659 trillion! The actual figure is $415 billion for the past quarter, but as usual economists can't speak in straight forward terms. They take the quarter and then talk about it stretched out over the year. Nevertheless, there seems little doubt that the larger figure will be achieved. Corporate profits have been steadily hitting astronomical levels since 2006. In other words, the recession has been limited to the working class. (See The New York Times' story.)