Hoarding, Not Hiring – Corporations Stockpile Mountain of Cash

[sabra]

Source: ABC News

Reluctant to Spend or Expand, U.S. Companies Are Sitting on a Record $1.6 Trillion

<snip>

One piece of economic data that has caught the attention of Byrnes, and others in his predicament, is a fairly staggering figure that comes out of the Bureau of Economic Analysis: Despite widespread unemployment, the BEA reports that U.S. corporations, reluctant to expand in an uncertain economy, are sitting on $1.6 trillion in cash reserves, a record amount, according to BEA economist Greg Key.

Even looking at the companies in the Standard & Poor's 500 index of blue chips -- and stripping out financials, which are required by regulators to keep large cash reserves in order to cushion against risk -- the cash on hand number is still rather monstrous: $1.1 trillion. To put that in perspective, as a percentage of companies' total market capitalization, that $1.1 trillion is more than double the ratio seen before the crisis.

"Cash is piling up faster than companies can figure out what to do with it," said David Bianco, head of U.S. equity strategy at Bank of America.

...

"Companies should absolutely spend some of that money to put people back to work," Byrnes said by telephone earlier this week, clearly frustrated. "I suppose they need to make shareholders happy, but come on already."

Actually, according to Bianco, shareholders will soon start to demand that cordoned off cash be put to work, either through some form of growth initiative or at the very least used to pay out a higher dividend. In either case, it's not expected that the cash being hoarded will at any point translate into rapid hiring.



Read more: http://abcnews.go.com/Business/hoarding-hiring-corporations-stockpile-mountain-cash/story?id=10250559

[chill_wind]

1. The rich get richer. Are the GOPTeabaggers really angry about this kind of news? Nope.

K & R.

[Uben]

2. And the poor get.....

...to help make them richer...as usual!

[rfranklin]

8. But that's capitalism and the top one percent deserves it all...

No socialism! Keep the gubmint out my Medicare!

[chill_wind]

10. And ain't it GRAND!

:-(

[hack89]

13. What about all those union pension funds

that could benefit from higher stock prices and dividends?

It's much more than the top one percent - my blue collar father depends on the income from investments to make his life more than bare existence.

[laughingliberal]

44. Yeah, isn't it fun while they build the bubbles?

When they crash? Not so much.

[pocoloco]

46. ...plus we got elections coming up!!!!

[Andy823]

34. No

The teabaggers are so brainwashed by the likes of Limbaugh and Beck, the only get upset with who they are "TOLD" to get upset with! They don't care about the "real" problems, their "leaders" have told them it's all president Obama's fault and they never question the dark overlords!

[Raster]

3. "...it's not expected that the cash being hoarded will at any point translate into rapid hiring. "

Of course not. The greedy corporatists have realized that through attrition, fear and intimidation they can force employees to do the equivalent of two jobs for the salary of one.

[butterfly77]

57. I thought they were hoarding cash..

and would start not hiring on purpose back when the President went to Caterpillar.

If you peek into fox every few hours you can see what they are planning as they talk. Now,they are trying to split the base with Israel..And immigration. Their strategy,divide and conquer.

[unpossibles]

62. exactly. I've been so busy that I'm cross-eyed, underpaid

and about to hit the 'event horizon' and they don't care. I don't mind working my butt off when necessary, but it's hard when told that we should not expect raises again yet have 3+ times the normal workload.

[Newest Reality]

4. Now there's an indicator for you

The hoarding could translate into more for them, less for us. I guess they will have to start sharing more with the shareholders, (which include the high-paid executives of the companies).

Don't large corporations always have feelers out and do market research as they fashion their long-term projections and forge their plans of financial conquest? Would it make sense to improve and expand if you don't expect a reasonable market share or customer base to purchase your product or service in reasonable amounts that will equal profits?

This kind of information, (along with other kinds) does not bode well for the middle and under-class at all. Hence, another good reason to hold onto whatever you have rather than spend. The vicious circle appears and is starting to look indelible.

What about the foreign markets in expanding countries? No good outlook there? The US Multi-nationals should have some excellent suckers, I mean growth opportunities where the dragons roam.

[chill_wind]

12. An indelible vicious circle. Well put.

and welcome aboard DU.

:hi:

[Mark D.]

53. Makes Sense

I've always advocated for the basis of their reinvestment of profits or surplus in hiring or wages since those consumers who benefit would spend more. But the shift from making money off money itself is a bellwether for a new paradigm. Products matter less and less. When an upper echelon really controls or owns most everything, it doesn't matter. They can make a new economy unto themselves.

That developing world with a surplus of low wage workers that make our minimum wage workers seem overpaid (and I've heard people (a-holes) say exactly this defending their doing this) will have a swath of ready to buy consumers in time, growing with that working class there. The difference?

If it's MADE in China and SOLD in China, there's no importing to worry about. As surely as they save on labor, shipping, and duties, there is a host of regulations and steps they save. Just have the near slave labor buy your cheap shit over there. Cut America out of it. We would like to think they couldn't even be so ruthless as not to care for the masses of incredibly poor around them. But when the GE / Morgan empire emptied mountains in the rural eastern mountain states of their coal, they did just that. They just left. Generations of black lunged workers now living in extreme poverty.

We cannot underestimate the level of sociopathy at that top level. It's like a table full of food, and a few giant pigs feeding. They're learning better and better how to catch the crumbs before the masses of little people on the floor, out of reach, the rats to them, can get some. You tell them the food will run out eventually, and that those masses brought them that food. It doesn't matter.

They figure they'll be dead by the time it gets so bad, that the food is all gone. When you're nose is that far in it, you just don't care. Then we see signs pop up in that rat class below. They meet the justifiable anger of others there head on with tea-bagging. The pigs drum up that support. They count on it. It wouldn't be possible to feast unchecked without that 'stabilizing' force below.

[LisaM]

58. Yes - the company exec are themselves generally the stockholders

someone has to bust this myth about corporations taking care of their stockholders. They're taking care of themselves!!! Not to mention, buying up their own stock cheaply when the markets dip low.

[Doctor_J]

5. That's why we need a 90% marginal tax bracket

so these tyrants would gain very little by hoarding anything over $2M or so.

I can't believe teabaggers can read something like this, and then bitch because of national health care. Of course, I also can't believe the teabaggers can read.

[hack89]

77. Individuals are not hoarding this money

nor does it mean the money is going to corporate executives. This money in in corporate accounts. Your "solution" doesn't solve anything.

[Mr. Sparkle]

6. It sounds like its time for a Corporate hoarding tax, to help pay off the national debt.

of course, unless, these corporations are unpatriotic. :evilgrin:

[Xenotime]

22. i like

[hack89]

78. No - the money belongs to the share holders

increase the dividend.

[MNBrewer]

85. No, the STOCK belongs to the shareholders

[hack89]

89. And what is the corporation's fiduciary responsibility in-regards to the shareholders? nt

[Joanne98]

7. Benedict Arnold CEOs

[bemildred]

9. Time for more buyouts and big paydays for the boss. nt

[NJmaverick]

11. Republican boards and CEOs taking a dive (so to speak) to help

their political party?

[global1]

14. Part Of The Corporations Plan To Get Rid Of Obama.......

Don't provide jobs. Don't pump money into the economy so we have a robust recovery. Blame Obama for it. Get the American People incensed enough that they put a Repug back in the WH in 2012 that will be more favorable to their profits. Then start spending again. Obama failed and the Repugs will get the credit.

That's what pisses me off about all the carping here on DU about the President. This guy is not getting cooperation out of anyone. Even members of his own party buck him. With the complaining here on DU - we're contributing to Obama's problems. And unfortunately we'll deserve the Repugs getting back into power.

[Little Star]

21. No Pity

:nopity:

[glinda]

24. I agree except for us deserving Repubs getting back into power.

[No Elephants]

28. Posting on a message board does not add to the President's problems.

Seriously, it's a message board.

[global1]

49. Sure It's A Message Board - But The Other Side Reads This As Well......

and they are picking up on the carping done by the Dems and using that against the Dems and Obama. You can hear it in their talking points. Also - the nasty posts here and the sour grapes has a tendency to influence or sway others here as well. It seems that the morale of DU has been down - IMHO its because of all the complaining and lack of support for a guy that was probably left with the biggest job of any President in our history. We should be carping about the last 8 years and what BushCo did and what a mess they left this President with. Instead many here think Obama could work miracles and undo in 14 months what BushCo destroyed in the previous 8 years and he's still having to deal with problems that are left over from the Reagan administration.

That's what I'm talking about.

[Mark D.]

54. Much Respect

For your view. And yes, I believe that is part of the plan. Since the GOP is much more corporate than the Democrats. That in itself explains the Dems attempted appeal to the corporate recently.

But if this is true, if they're out to get our President and party, there are signs this 'appeal' by the party and President to the corporations just isn't working. It can't compare to the GOP's gifts.

Why not go for it. Why would the President not take more drastic steps towards the progressive agenda we 'hoped' for. That's part of the Palin 'how's that hopey changey thing doing' rub...

Not to quote or validate what she says, but to make a point. If the President and our party lets us down, it empowers that GOP wing to say they told us so. They need to stop 'proving they're right'.

FDR went left without abandon. To the point the elite / American Nazi powers that be (Prescot Bush and others) tried to have him couped. The results of that zero compromise? Re-election! It worked.

[Iowa]

68. Utter nonsense...

There is an inconsistency in your logic. You can't express outrage about the mess the Republicans created while simultaneously cheering on a President who is hell-bent on pursuing bipartisanship and continuing the overall direction of their agenda.

As progressives we can choose to be driven by policy concerns, or we can choose to fall into line behind a brand-name and a charismatic personality. Progressives who are honest with themselves know that we can't have it both ways... not with this president.

[seabeckind]

30. Nah, corporations don't care about politics

They ONLY care about profits...and will support anyone or anything that gets them more profits.

Their only loyalty is to their money.

[girl gone mad]

48. What a ridiculous thing to say.

Corporations love Obama, particularly those in the FIRE sector.

[Iowa]

69. +1

[rocktivity]

15. Candidate for this year's "You Call This NEWS?" Award

And Paulson had the nerve to get upset when Congress first refused to hand him with $750 billion in taxpayer funds with no strings or oversight.

:banghead:
rocktivity

[One_Life_To_Give]

16. Why does this surprise anyone?

As consumers we collectively stopped spending on discretionary items. Do we expect business owners, merchants etc. to continue financing their business on credit in this economy?

[Proletariatprincess]

17. There are no "American" Corporations.

They have no ties to this country. Their only loyality is to their profits. There is no incentive to hire American workers when outsourcing or technology will serve. They can't be made to create jobs for US workers and they will not.
We have to come to terms with that and quit believing that it can fixed and that unemployment will ever fall again without drastic measures. Congress and local governments have to quit believing that giving tax breaks and special considerations to corporations will help create jobs. They won't in the long run. Besides, they pretty much own government now.
We need a democratic socialist solution or the USA will soon become a 3rd or 4th class nation.

[seabeckind]

36. YES!!! n/t

[ccinamon]

18. Another item to prove "trickle-down" DOESN'T work...

remember all the talk....companies will spend any money they get cuz they are in business to make money?

Liars.

[crazyjoe]

19. I'm hoarding my cash too, nobody is spending right now.

[seabeckind]

32. That isn't why they're hoarding

They're hoarding cause they make more profit BY hoarding.

Corporations, regardless of USSC rulings, are totally impersonal. They are like a shark, a feeding machine. All they do is eat and reproduce and they don't care who the second party is in either activity.

[krispos42]

20. Of course

Companies don't expand simply because they have the money. They need incentive, or demand, to do so. This is why giving tax breaks for the rich is a useless economic stimulant without the purchasing power of the bottom 95% or so growing.

[laughingliberal]

47. +1000

Exactly right! One of my favorite stories this year was the one about some cities who put their foot down about the tax breaks. They basically told companies that were given tax breaks to move there that the deal had been for jobs so either produce the jobs or pay the taxes. We need to start looking at that nationally.

[florida08]

23. they're hoarding

while they wait for the elections to near. SCOTUS ruled they were a 'person' now. Time to buy congressional favors.
:popcorn:

[glinda]

25. This has been going on for years but some just woke up to it.

[florida08]

27. you bet they have

:thumbsup:

[Mark D.]

26. This Was Planned!

Nazism. Fascism. Corporatism. Everything is the opposite of what really is, and the weak-minded, if well intended, fall for it. They 'want their country back'. From what? An effort to help them? The elite would not be able to do what they do without a large number of their victims enabling them.

Say the opposite of what is true. They believe. They do not-see reality. Not-see-ism. Corporatism. I'm frequently debating folks who are hardly flourishing in this growth economy for the very rich (which is underway right now, growth IS happening, but just for the top 1%). So sad but so true.

The most powerful bank, JPM Chase, creator of the Credit Default Swap (betting on failure, a horrid and immoral concept for 'profit'). The largest hedge fund manager. Owned by the richest American family (Rockefeller) hoarding their own 10-15 (estimated) Trillion. Running the biggest oil co.

JPMC was the tipping point in the collapse of Bear Stearns AND Lehman Bros (they decided on the other 9/11, 9/11/2008, to freeze Lehman assets. 9/12 they announced it. 9/15 Lehman collapsed, as did the market. The market since recovered, got trillions from the Federal Reserve and government.

Any mention of trying to hold them responsible, trying to limit bonuses and compensation even just a little bit is met with 'tyranny' and 'socialism' by the intellectually handicapped, or aware, and very much benefiting enablers. Drum up fear of govt. big brother to enable corporate big brothers.

Not one new law to control their activities. What's proposed is being watered down, and finding a way to give even more power to the Federal Reserve that made much of this possible. The Walton (Walmart) family is 5 of the 20 richest people, as their average employee makes minimum wage.

1 trillion a year is being shifted from the bottom 99% to the top 1%. Google this, it's not hard to find. This has gone on for decades, especially since the Reagan years. It's a battle for the minds of America. Will we educate enough on who the real thieves are, or will they fall for their lies.

It is a LIE that there has been no recovery. There has. One thing John Edwards got right, there are two Americas. It was once us and them. Us being those not in poverty, them being in poverty. Now it is us as the bottom 99%, and them as the top 1%. Especially the top .01% that control everything.

The 400 richest people have more worth than the bottom 50%, more than 155 million people. So many defend this as money they earned, their reward. Nobody is against doing well or ethical earnings. It is an illusion to 'not-see' so much of this wealth came to them in a corrupt way. And they love it.

WHERE AM I GOING WITH THIS?

This was a planned collapse. Not just by the most powerful like JPM Chase / Goldman Sachs, etc.. It clearly involved the other top brass in the business roundtable calling the shots. Just think about it, this should be huge news but it is not. It seems like a 'conspiracy theory' except it's proven.

THERE WILL NOT BE, for the first time in history perhaps, a complete, or even NEAR complete kind of recovery for the bottom 99%. Every recession, since the Depression, and even the Depression, we had recovered from. Some took longer. Note, especially recently. Taking longer, that's totally planned.

Yes it is. Bush 1 recession. Clinton got us out of it, but it took years, not a year or two. The Bush 2 recession. It took even longer, and we never really did 'get out of it' in the middle class, where wages actually fell as the 'recovery' went on and the data shows this plan as it unfolded.

75% of growth in the mid Bush-era 'boom' was at the top 1%. The wars he started, unlike wars of old, did nothing to stimulate the general economy, just for the military industrial complex & bankers. Mainly. They always profited off war, only now, they're getting better at not wasting profits.

Having the whole economy grow, not just Wall Street and War Street (the MIC) is wasteful. As surely as a rich person starting a company to make a few million profit in a few years is wasteful, when he can swap bets with fellow billionaires, and make billions much sooner. This is really a no-brainer.

THERE WILL BE NO REAL RECOVERY.

The erosion of wages in the last decade is gone. So are the jobs. The post-industrial job market will have more of us every year saying 'welcome to Walmart' vs. punching a clock at a double-digit per hour paying job. The lack of jobs, while they hoarded the money is the perfect plan for this.

Scarcity breeds value. Folks being so bad-off they'll take any job, even if it used to pay $15 an hour and now pays $10, and maybe pays $8 in a year or two. That's the plan. I totally believe it now. This article fully proves it. To doubt it is to put too much trust in that corporatist elite.

We can all look forward to Walmart greeter jobs. But get this - until they find a way around that. When holographic imagery comes of age, they'll just have a 3D image of a person in India wearing a Walmart smock saying it when you walk in. One person doing all the stores. The savings!!! (Sarcasm).

[shanti]

92. you nailed it.

:thumbsup:

[BigD_95]

29. but but but

if u give the rich tax breaks they will expand and hire people. Thats how trickle down econ works

[Mark D.]

39. George Carlin Said It Best.

"Conservatives say if you don't give the rich more money, they will lose their incentive to invest. As for the poor, they tell us they've lost all incentive because we've given them too much money."

"Have you ever wondered why Republicans are so interested in encouraging people to volunteer in their communities? It’s because volunteers work for no pay. Republicans have been trying to get people to work for no pay for a long time."

[boomerbust]

31. I wonder

If not being able to hoard their profits in off shore tax cheating accounts might have something to do with this.

[KansDem]

33. This was on ABC News? Wow! When did they wake up and realize they were a news network?

:wow:

[Mark D.]

37. ABC is owned by Disney

Disney is one corporation hurting when the middle class has less disposable income to spend there.

[seabeckind]

35. Corporations are not in the hiring business

They're in business to make money not jobs.

Society's job is to keep them honest. And we gave up that job when Ronnie was elected.

<on edit> I thought this might be a good place to post this article:

http://www.washingtonmonthly.com/features/2010/1003.lynn-longman.html

"...ever more dominant Goliaths increasingly lack any real incentive to create new jobs; after all, many can increase their earnings merely by using their power to charge customers more or pay suppliers less. At the other extreme, the people who run our small enterprises enjoy fewer opportunities than in the past to grow their businesses. The Goliaths of today are so big and so adept at protecting their turf that they leave few niches open to exploit..."

[Mark D.]

38. Perfect.

That is true. Once they realized most of the higher paid jobs could be exported, or imported with HB Visas (the one thing Lou Dobbs was right about, those Visas being wrong), or given to some robot, or just gotten rid of to shift the work to other workers (ie. increasing 'productivity' which Bush and his naive followers frequently celebrated, congratulations, you do more work for the same or less pay, imbeciles) they started the process.

Employees are necessary evils, parasites they try to shake. If the few rich bastards owning those companies could press a button and get the work done without any employees, they'd do it in a minute. Now that so many, and more every day, make money swapping bets with other rich folks, the whole 'industrial' thing is so yesterday. Make something? Make money, that's the whole point of their making something in days of old, to sell for money. If money can be made shrinking payrolls, or swapping bets, it's a more direct method.

[florida08]

40. exactamundo

but try telling that to a republican. Their view is that the poor(that's us unwashed crowd) don't create jobs so we shouldn't tax them. My head always spins around when I hear that.

[Selatius]

52. That's the sign of a broken market: Monopolism. nt

[alp227]

41. On the next episode of "Hoarders"...

Taxpayer money is hidden deep inside the dungeons of big corporations!

Really, what good does the excessive surplus of reserves do when unemployment is so high?

[change_notfinetuning]

42. One more reason to separate health care from employment, something the

Obama insurance reform initiative refused to consider. It's another reason the craporations outsource jobs, in addition to cheaper labor and inferior environmental regulations.

Health care is a game to politicians, Democrats and Republicans alike - at least most of them. And it's all tied in to profits, and not just those of health related companies.

This "recovery" is brought to you by higher American unemployment. Do something, or get used to it.

[truedelphi]

60. Is it that the Obama Adminstration doesn't consider these things,

Or is it that he made so many pledges to the Corporate Elite while running, and since he wants to run again, then he must make good on the pledges?

And the electronic voting machinery will deliver the results desired by the Upper Elite - so it's not like he needs us voters.

[Deep13]

43. Wow, what a tremendous taxable asset!

Hey, I can dream, can't I? :eyes:

[buckrogers1965]

45. Corporations with no employees...

At some point in the future robot factories will produce widgets for other robot factories with expert systems having replaced even the CEO's. At that point no human will have anything to do with the factories.

Is this the future we humans want? Why not created jobs for people that create value for all people as a first duty for all people?

[skeptical cynic]

50. Consumers should adopt the same tactic

In an economy based on consumption, those of us fortunate enough to have disposable income should quit disposing of it--consumers should stop non-essential consuming.

To begin with, we can stop buying imported goods--buy American--employ Americans.

[SocialistLez]

93. It's VERY hard to buy American

There are some sites out there where they tell you which companies or websites have American-made products but eh....

It's very odd things.

I was considering a new TV for Christmas and I couldn't find a single brand that was made in the USA.
I won't buy a new TV until my old one goes out and I go crazy from not having a tv.

I don't think any of our computers are made in the USA. Apple pretty much makes all their goods overseas.

I just buy the essentials these days. I know most of our stuff is made in China. It's so depressing.

[d_r]

51. it is good for the companies for unemployment to be high

Well, not too high, because then people couldn't buy their products and services. But high enough that they can pay people lower and have people wanting to work.

I remember in the Clinton years I couldn't go anywhere without there being help wanted signs posted. In order to get college students to work at any job around campus, you had to offer them $10 an hour - less than that and they could just go work at mcdonalds, because everybody was hiring.

Think of the difference now.

I remember about a year ago reading that Walmart was making a big profit, then a few weeks later reading that walmart was laying off a ton of people nation wide. I thought "they are using the excuse of a poor economy to fire people so that they can hire people for less money and make more profit." And I really think that is part of what has gone on.

It is like a "buyers" and "sellers" market. If people are having a hard time finding work, then they can pick and chose who they hire and pay less, and people will take it so that they have SOMETHING. People will accept not getting raises and paying more for insurance, etc., if they are afraid of trying to find another job because the market is so bad.

It is good for the companies to keep unemployment high. They can't let it tip too far, or they will break the system. But they will try to find the sweet spot where they can pay people less and expect more because there aren't alternatives.

Sorry to be cynical, but I believe it. I think half of the problem with the economy is from businesses trying to use the poor economy as an excuse to make more profit. And I think the other half of the problem is the oil companies trying to gauge the highest price they can for gas. And I think the third half is the housing bubble caused by mortgage brokers trying to make more money off of a ponzi scheme of telling people their houses were worth more than they were. And there is probably other halves that I'm not smart enough to think about right now, but it is going to somebody else's pocket.

[Blackhatjack]

55. It's disheartening to realize they would never miss 50 Large... and what it could do for a family...

...struggling to get by, likely with one parent unemployed.

I guess they never heard of 'doing a good deed everyday' --and what makes it so tragic is that they have it within their power and they refuse to help.

[tclambert]

56. Is this the April Fool's story?

[Supersedeas]

59. Profitability will not suffer PATRIOTISM--concern for Americans takes a backseat to concern for

stockholder dividends and CEO bonuses

That's what infuriates me about the BIZ channels with their MIMBOS and BizChicks cheering as companies cut jobs as unnecessary overhead in order to improve stock values.

[unpossibles]

61. ah, trickle down economics at work!

Bless you, Ronald Reagan.

And by 'bless' I mean 'fuck'

[texastoast]

63. Oh, please trickle on me--I'm nostalgic for Reagan's trickle trickle

theory.

:sarcasm:

[midnight]

80. Drunk on arrogance.

[Odin2005]

64. The Invenstor Class is nothing but a bunch of parasites.

[Jefferson23]

65. The banks do the same damn thing. n/t

[Hestia]

66. They know what to do with the cash - sponsor elections, like they do NASCAR

with all the logo patches

[wishlist]

67. Oil companies are spending millions on ads against oil taxes

Oil company propaganda ads are constantly on TV with supposedly average ordinary citizens giving their opinions as to why oil taxes would be terrible for average Americans (saying that it would be passed down to consumers). The fact that they feel the need to run these ads though seems to contradict the notion that they would be able to just pass the taxes along to the consumers, since if that was true they wouldn't care about taxation of their windfall profits. So I wouldn't be surprised if other companies start spending millions too if taxation is seriously mentioned by Congress.

[DissedByBush]

70. Uh, question, where do they hoard it?

I doubt it's sitting under some executive's mattress.

[BreweryYardRat]

71. Time for a "put up or shut up" deal.

They can either create new jobs, or we'll seize 50% of these reserve funds and use that money to create federal jobs.

And maybe a few CEOs will have tragic accidents.

[bvar22]

72. Supply Side Economics was thoroughly disproven under Reagan.

Voo-Doo Economics.
Our economy is Consumer Driven.
If you want an Economic Recovery, a recovery with JOBS, put the $MONEY$ in the hands of the consumers, NOT the already RICH Corporate Ownership Class.

[donheld]

73. k & R bookmarked

[pundaint]

74. Yo People = We are One. You may be well off now, but you are at the mercy of corporations

incapable of mercy. Until We all join together for the benefit of the People, the corporations will continue the rule they've been extending since the 70's. We are teabaggers, teachers, truckers, and managers. Do not let the corporations and their political lapdogs divide us into fighting ourselves. People Rule, or they will again if the fog can be lifted.

[AllyCat]

75. Quick! Lets give them another bailout package to "spur the economy"

[OhioChick]

76. K&R n/t

[Amonester]

79. How 'bout *another* Tax Cut (TM)?!?

It's not like they Really need it. :sarcasm:

When will these Crooks Co's put their country first????

[Deadgnome]

81. Yay Capitalism.

On another note I'm excited Baseball season kicks off tomorrow. This doesn't matter in the grand scheme of things. It is what it has always been, at least in my short life.

[Ken Burch]

82. It's a capital strike.

They are determined not to do anything to make the economy better as long as economic improvement would do the administration any good.

Really, it's a case for large-scale nationalization. The companies that are cash-hoarding should be nationalized under the "good and welfare" provision of the Constitution, then turned over to their employees to run democratically and on humane social principles.

I'm not holding my breath, but that's what should happen.

As long as the rich are left with the power they now have, they'll be obsessed with crushing us.

[HughBeaumont]

83. And people wince when I say "Corporate America is sabotaging American progress".

Unequal and fascist societies where corporate power reigns supreme and labor/consumer power is suppressed will NEVER thrive. Corporate America is enjoying it's lowest tax burden in 75 YEARS. It's funny how they're acting the SAME way they say WE would act if we were to become "more soshulisst!": "Waaaal, if you give people free money, where's their incentive to work? Why wouldn't they just sit around on their fat lazy asses instead of WORK?"

What say YOU, corporate America?

Does anyone ALSO realize that Republicans are for this "rugged individualist" crap when it comes to average Joes and Janes; that we must want to thrive and compete with our far cheaper overseas counterparts (really, other than living under a bridge or in a box, I really don't see how we'd be able to "compete" with their wages)? Yet why does no one hold Corporate America to that same standard? Corporate America doesn't compete, they CONTROL. They sit on the boards of other companies and dictate exorbitant salary packages for themselves while firing thousands of American workers and employing third-world wage slaves. That isn't competing, that's being a thief.

As much as no one wants to admit it, it smells of economic sabotage, no matter HOW you slice it. The wealthy are going to put up a giant fight against the sunsetting of the Bewsh tax cuts (which, really, should have already been rolled back). But since there's no legislation needed for expiration, there's really nothing they can do to stop it. Let's see how they'll be when that happens.

[HughBeaumont]

84. Also . . .

. . . does anyone know that the Bewsh era's strongest period of hiring came during 2004; during his re-election campaign??? And after 2005, it soon dropped like a brick again???

Cash and carry, anyone?

Data doesn't lie.

[Lerkfish]

86. so this is why I can't find work... lovely

well, I hope they choke on their stockpiles of cash.

[loudsue]

87. Corporate-run Capitalism DOES NOT WORK.

It is every bit as dysfunctional as any of the previously tried economic systems. You simply CANNOT put the fox in charge of the chickens.

[RedCloud]

88. Please do NOT prosecute them Obama. They need this money to finance the elections.

This way they can get the right lackeys in government despite the all too painful fact most of the government already has caked on fecal debris from too much ass smooching.

[Doctor_J]

90. Hartmann & Bernie discussing hoarding now (rerun)

http://208.99.81.102/tunein.php/omr1580/playlist.qtl

[newspeak]

91. Sometimes I wonder why the majority of the people can't walk away from

these global behemoth monsters. People pulling what little resources they have-but pulling it together and starting their own cooperatives-their own businesses. I mean if approximately ninety-percent are going to be left with nothing or very little left-wouldn't it be better now to attempt to save our own carcasses as a unit? We allow these corporations to have the power over us, while giving very little alternatives. Some of these beasts survive on our money, from bailouts to just plain stealing-like the S&L theft.

It just seems like there's got to be something that we could do.

[SocialistLez]

94. The extras in

"Capitalism: A Love Story" gave me some hope.

At the same time, most people feel so powerless and poor.

http://www.youtube.com/watch?v=TFYdVfp9Nj0