profits, cash on hand, debt, and aggregate demand
(Chart via Orcam Investment Research)
http://pragcap.com/an-alternative-view-on-the-corporate-cash-hoard
let me say, however, that I think there’s a very good case that the redistribution of income away from labor to corporate profits is very likely a big factor.
http://krugman.blogs.nytimes.com/2013/02/08/corporate-hoarding-and-the-slow-recovery/
I suppose even I don’t feel like commenting. While the address is always theater, and has not been an accurate predictor oft times to what is actually proposed in the rest of the term, I can’t feel heartened by a speech that has become more theater than not.
Dan
more now because we know what is going on off camera.