It's Not FOO

Why the corporate cash hord and low levels of business investment?

It's not Fear Of Obama. It's not fear of a "looming deficit". It's not fear of ultra-low interest rates. It's not fear of inflation. It's not fear of higher taxes.

Let me ask a question: If you have a business and times are tough, do you worry about the above all night? What's the one thing you need above all else to actually have a business?*

"In short, there’s no puzzle about business investment — and not a hint that we have to invoke some kind of oh-god-Obama’s-a-socialist story to explain low spending. It’s the economy, stupid."
---Krugman, 7/7

*sales