Ned's economics lesson

Ned would like to explain today's economy to his many freinds. We are all familiar with the dreary numbers: high unemployment, concentration of wealth in the hands of the Sneering Plutocracy and the Paris Hilton Crowd, GOP Mindless Midgets in charge of the House, and de facto the Senate. Obama has been unable to move the economy off dead center, mainly because of (1) timidity and (2) GOP knuckledragging, neither of which is likely to go away. But here's the simple explanation to the sluggish eonomy: CORPORATE PROFITS EQUAL 12% OF GDP. Now what's so bad about that? First, corporations are sitting on most of that cash and not investing it, or paying it "out" in dividends, or heaven forbid, paying their employees below the level of Sneering Plutocrats. Second, the money they do spend goes to salaries for Sneering Plutocrats, who can't possibly spend all of their filthy lucre, so it does not go back into the economy. Just recall Mitt Romney's offshore accounts. So, while the middle class stagnates, and the GOP plays its obscene game, the Plutocracy hoards cash like the Dragon of the Nibelung.
Ned hopes his friends have a very nice day.