Sep
7th
Tue
7th
The reason businesses aren’t investing in new plant and equipment has nothing to do with the cost of capital. It’s because they don’t need the additional capacity. There isn’t enough demand for their goods and services to justify it. Consumers aren’t buying because they’re trying to come out from under a huge debt load, including mortgage debt; they have to start saving because their nest eggs are worth substantially less; and they’ve lost or are worried about losing jobs and pay.
-Robert Reich, Why Obama is Proposing Whopping Corporate Tax Cuts, and Why He’s Wrong
Painting by Josh Keyes (via iheartmyart): Scorch II, 30”x40”, acrylic on panel, 2009
