Joanna
Doug Henwood wrote:
> WSJ.com - October 22, 2004
>
> THE MACRO INVESTOR
> By STEVE LIESMAN
>
> Corporate Cash Hordes
> Might Mean Capitalism
> Is Fresh Out of Ideas
>
> Is capitalism running out of ideas?
>
> That's the question posed by Patrick Artus, chief economist and head
> of research at the French investment bank CDC IXIS Capital Markets.
>
> Mr. Artus observes something this column has mentioned often: the huge
> amount of cash on the books of U.S. corporations and the low
> investment levels relative to profits. But he takes it a step forward,
> finding it to be a true in Germany, Japan and, recently, in France.
>
> "