“What this discussion implies is that an essential requirement of economic recovery is that the widespread problems in the balance sheets of business firms must be fixed. Business firms need more capital, less debt, and more cash. When they achieve that, business confidence will be restored.” – George Reisman, 22 November 2009 http://georgereismansblog.blogspot.com/2009/11/pro-free-market-program-for-economic.html#links
“Big U.S. companies have cleaned up their balance sheets and, flush with cash, appear open to using it in 2011 on factories, stores and even hiring.” – James R. Hagerty and Dana Mattioli, 1 January 2011 http://online.wsj.com/article/SB10001424052748704774604576035791444372756.html?mod=WSJ_hp_MIDDLETopStories
Happy New Year!