[lbo-talk] BW: Timid fat cats

[Doug Henwood]

How quaint! Time to dust off the Keynes. "[The desire to hold money 
as a store of wealth is] a barometer of the degree of our distrust of 
our own calculations and conventions concerning the future.... The 
possession of actual money lulls our disquietude; and the premium 
which we require to make us part with money is the measure of the 
degree of our disquietude."

Weirdly, profitability is quite high, having recovered most of the 
1997-2001 drop. Yet corps seem to lack confidence in the future.