July 11, 2011 Topics: Portfolios, US corporate profits and the Twilight of the Gods (in the US, Europe, China and the IEA) Here’s what our U.S. Balanced portfolio looks like right now 1 . This week’s note reviews some of the factors that affect these allocations: healthy private sector profits, problems left over from the recession, and interventions by the world’s legislatures, treasuries, central banks and multilateral agencies. This latter group reminds me of the ancient Greek