The companies aren't hiring, because consumers don't have enough money to buy the goods and services.
Michael HudsonOne basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the gains of the rich people since 1945 have been "capital gains".
Michael HudsonIf you increase living standards, you make labor more productive. This is why Asia today is becoming more productive than the United States.
Michael HudsonThe vast majority of $100 bills are abroad, not in the United States. So yes, of course there's a use here but nowhere near as much as there's a use for $100 bills abroad.
Michael HudsonThe most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.
Michael Hudson