I see today that U.S. businesses had record profits last quarter. Unadjusted for inflation, it appears to be the most profitable quarter since records have been kept (60 years). Adjusting for inflation it is still from the second to the sixth most profitable quarter ever (I guess there are different ways of making that adjustment.)
Businesses have been moaning about how "anti-business" Obama is, but these results put a chink into that argument. I think they are just a bunch of crybabies, and--as I've said before--it's about time for them to step up and start hiring some workers. Consumers are spending. Investors are investing. It's about time for the Chamber of Commerce to stop whining and for businesses to start hiring.
1 comment:
Obama isn't anti business. He is anti labor. He favors positions that favor business over labor. That doesn't make him special. Republicans do as well. Interestingly male labor force participation has fallen since the '50's from about 86% to about 75%. Constantly increasing the cost of hiring Americans vs. foreigners has had what should have been obvious effect, job losses.
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