Corporations Hoarding Cash, Not Hiring – Stockpile Mountain of Cash - pt. 2 (extension, record)

[HC475]

Proponents of benefits extensions point out that corporations are sitting on approximately 1.8 trillion in cash while not hiring.

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

The Economic Policy Institute's March 2010 report cites an average of five applicants for each job opening.
The Bureau of Labor Statistics has released a report on the long-term experience of the jobless.

By the end of 2009, the jobless rate stood at 10.0 percent and the number of unemployed persons at 15.3 million. Among the unemployed, 4 in 10 (6.1 million) had been jobless for 27 weeks or more, by far the highest proportion of long-term unemployment on record, with data back to 1948.

So much for lazy Americans looking for a handout...

[HC475]

Let's try to keep politics out of it even though this is a highly political issue.

[MotherLeeds13]

Originally Posted by HC475

Let's try to keep politics out of it even though this is a highly political issue.

Then move it to the politics forum. The title of your thread sums it all up...you are instigating a flame war and inviting trolls as well.

[HC475]

Originally Posted by MotherLeeds13

Then move it to the politics forum. The title of your thread sums it all up...you are instigating a flame war and inviting trolls as well.

No instigating... Trolls come on board and try to instigate a flame war when it's a topic people want to avoid...

[7 Wishes]

Let me guess, TPTB chose to close the first one instead of move it to the Politics forum.....

[JMT]

Duplicate threads and posts are not allowed. Go look this one up in the Politics forum if you want to keep talking about it. This one is closed.