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Home Publications Blogs Beat the Press The Post Tells Readers that Business Leaders are "Exasperated" Despite Record Profits

The Post Tells Readers that Business Leaders are "Exasperated" Despite Record Profits

Friday, 17 June 2011 07:24

Readers of the Washington Post article on a meeting between a group of business leaders and President Obama's chief of staff William Daley must be wondering how the Post knew that the executives were "exasperated," as the Post told readers in the third paragraph. 

The Post told readers that the executives had complaints over environmental regulations and stalled "free-trade deals." (What the Post describes as a "free-trade deal" would be described as a "trade deal" by neutral reporters rather than advocates. These deals have little to do with creating free trade between the countries involved.)

Of course businesses will always want more profit and if they looking "exasperated" helps them get their way with a weak president and a gullible media, they will look as exasperated as possible. In reality, the profit share of income is at record highs, so environmental regulations of the Obama administration and the stalled trade deals are not having too much of a negative impact on the bottom line.

The article also described the May jobs report as "surprisingly glum." While it was glum, there was nothing surprising about it to people who follow the economy. There was considerable evidence of weakness in the economy and the labor market prior to the release of the report, most importantly a jump in the number of weekly unemployment claims to averages well above 400,000. This number of claims is inconsistent with strong job growth.

Comments (3)Add Comment
lexical stratification
written by frankenduf, June 17, 2011 7:46
perhaps the post is reporting on behalf of the suffering of the mass of un(der)employed, who are too dumb to feel exasperated by the administration's inaction- they simply feel pissed off
written by PeonInChief, June 17, 2011 1:35
I should think that the masses of people who supported and worked for Obama have a much greater right to exasperation with him than the banking and business communities. They got almost everything they wanted, and we get to pay for it.
don't forget
written by jamdox, June 18, 2011 3:58
We're also pumping more oil (http://www.ft.com/intl/cms/s/0...z1PBeTQWq4) too.

But there's a WAR on domestic oil producers! Sigh...

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.