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CLARKONOMICS: We are in unusual situation right now in the United States with four big problems on the table.
So that’s a world of worry, isn’t it? Europe is a mess, we’re a mess and individuals are afraid to spend right now. Tightening the purse strings on an individual level is good for the long term, but not for the short term. In fact, it makes recession more likely in short term.
At the same time, big corporations are sitting on the largest piles of cash just about ever, but they’re not willing to spend with all the uncertainty in the world and the dysfunction in D.C. It’s hard for a business to get the lay of the land, and therefore businesses can’t have the predictability and stability they need for them to engage in capitalist risk.
This post was last modified on March 22, 2017 2:34 pm
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