[lbo-talk] BW: Timid fat cats

[Brad DeLong]

>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.

And when do the current expensing provisions expire? December 31? 
November 2? Isn't it about to get a whole lot more expensive to 
invest?

Brad DeLong