According to The Wall Street Journal, U.S. companies are scaling back investment plans at the fastest pace since the Great Recession, signaling more trouble for the already failing economy.
Half of the country’s 40 biggest publicly traded corporate spenders have already announced plans to curtail capital expenditures this year or next, according to reviews by The Wall Street Journal.
At the same time exports are slowing or falling to critical markets like China and the Euro zone as the global economy continues to fall. “The whole world is looking for stability and clarity from the United States,” David Seaton, chief executive of Fluor Corp., a large engineering and construction firm to The WSJ. If uncertainty is not removed, he said, “people will sit on their war chests of cash and return it to shareholders. You’ll have a retarded growth trajectory.”
Even if people or businesses and corporations have money, they will not be spending it due to the Obamanation.
The Nanny State can print money but it can’t create jobs or wealth for anybody except government employees. In fact, record deficit will result in record inflation, destroy jobs and actually bring in LESS revenue to the Treasury when it raises tax rates rather than lowering them.
We the people made this shit sandwich and we will be eating it for a minimum of two years. Bon Appetite!
A free and competitive market allocates resources in the most efficient manner