http://www.youtube.com/watch?v=Ia4QwztEjxg
On July 11, 2012, Reuters columnist David Cay Johnston states that the Fed says american companies are sitting on $1.7 trillion of cash, but Johnston found that the number is actually three trillion higher. Johnston explains why are they sitting on so much cash.
What David Cay Johnston does not explain is that this hoarding of cash is the result of earnings flowing to the 1 percent from concentrated ownership of income-producing productive capital assets, which has put a clamp on consumption, and thus demand, because the 99 percent are dependent ONLY on jobs, which are being destroyed or degraded by tectonic shifts in the technologies of production. What needs to be adjusted is the opportunity to produce through expanded private, individual ownership of future productive capital economic growth so that consumer demand is strengthened, which creates demand, which further fuels economic growth. Critical to this solution is broadening ownership of future income-producing productive capital assets among ALL American, not just allowing it to further concentrate among the 1 percent, who already own America.
