Wednesday, July 14, 2010

This Is What's Wrong with the US Economy

From The Washington Post:
Companies pile up cash but remain hesitant to add jobs
Corporate America is hoarding a massive pile of cash. It just doesn't want to spend it hiring anyone.

Nonfinancial companies are sitting on $1.8 trillion in cash, roughly one-quarter more than at the beginning of the recession. And as several major firms report impressive earnings this week, the money continues to flow into firms' coffers.

Yet all the good news from big business hasn't translated into much promise for jobless Americans, leading many to wonder: If corporations are sitting on so much money, why aren't they hiring more workers?...
Hmm. Why?

Greed comes to mind.

2 comments:

  1. Big business maybe, but not the small kind. I wish my company were sitting on a little cash.

    ReplyDelete
  2. My company contracts for one of the huge ones. Those bastards actually CUT our price a few months ago. Now not only are we working without any benefits, but we're working even harder than before, covering with 8 what it used to take 12 to do. This is going too far and some days I almost wish the drones would revolt, despite my commitment to peace as the only solution.
    Oh well, time for slavery, back to the mine!

    ReplyDelete

Comments are unmoderated, so you can write whatever you want.