- Purple Library Guy
- August 07, 2012 - 15:35
Norman from Cayman: Who cares why they're doing it? Yes, no doubt they're pursuing their rational self-interest. So what? They're wrecking the world economy. Why should I care what they want or why they want it? I got my own rational self-interest, and it says things would be better if we took some of that stash and put it to work. If we took half that Canadian corporate wealth stash, just half, and added it to half the Canadian individual tax-avoidance stash in the Caymans, Switzerland etc., we could pay off the entire national debt. Just as a for-instance. With zero debt-servicing, we'd be in massive surpluses, be able to fix medicare and build infrastructure and create jobs without either increasing taxes or running deficits. And that's probably one of the *less* useful things we could do with that much dough. The possibilities are incredible. We could end poverty, make post-secondary education free, create full employment, build complete end-to-end renewable energy generation and infrastructure for the whole country . . .
- Norman from Cayman
- July 29, 2012 - 06:40
Now why do YOU think these companies are sitting on piles of cash rather than investing them? It can't be because they are getting fat on bank interest, because interest rates, even if you invest millions of dollars in a CD are close to zero. In fact lower than inflation rate. Maybe it is because until the economy expands worldwide they just don't NEED new machinery and expanded facilities.