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February 10, 2013
Things in these circumstances. but the economic professions just generally. and people threw away a lot of knowledge. it was shocking in 2009 how many people didnt know -- you know, they were reinventing 1930s vintage fallacies thinking it was fresh think because they didnt know the history of their own profession. >> i want to talk to you about one of the great mysteries of this recovery, which is this divergence between profits and wages, the continuing soaring profits and what the heck is goi...
February 10, 2013
Corporate cash flow and investments were about $700 billion each. by march 2012 it was at 1.2 trillion. capital investments were around $1 trillion and overall have about 1.9 trillion dollars sitting on their balance sheet. apple has had this bizarre kind of like crisis of having too much cash where their shareholders are telling them you have all this cash, what is the deal? we dont even know how to price this over a certain window of time. why is there so much money sitting on the sideline? >>...
February 10, 2013
Profits thing is the story. the money is disappearing into a sinkhole. yeah. dean has been arguing that excess saving is not our problem and i was sort of picking up from him. >> actually i take a different position. i think stick lits was onto something. we did see the reintroduce. you dead did see a rise in profit sharing. paul is absolutely right. my argument is we had a different regime, that what we had was the fed lowered interest rates. they felt comfortable lowering interest rates. he wa...