The AP reports on the dismal employment figures – but rather than dig into the real reason why employment isn’t coming back (the whole end of growth thing) – we get this:
“… companies are still not prepared to hire in great numbers. They have the cash to do it — corporations had amassed $1.84 trillion of it as of June 30, a record — but are not yet satisfied that customer demand is really back.”
So let’s see –the biggest corporate profits ever, the most cash ever….but they are not really satisfied that customer demand is coming back? Where, exactly, did they get all that cash?
This means that they either are scared shitless about what’s getting ready to happen and are saving for the bad day still to come, or that they’ve figured out a way to make money without having to actually employ Americans. Or perhaps both.
Or you could accept the excuse they they are still “testing the waters”
read the article here