They are, apparently, sitting on big wads of cash. My interpretation of this is that it’s the very definition of uncertainty. I might also mention that when people start sewing gold into the linings of their coats it’s usually a sign that they want to be prepared to escape across the border.
Why take time to sew, just boogie like that Facebook kid to Singapore and renounce your citizenship.
Heh. Well, I’ve been saying this for 3-4 years running, and only been getting harpoons thrown my way.
People are scared shitless about asset values and inflation. Business people are similarly scared about the results of their investments, and hence are not making them.
Barack Obama has simply told everyone with income or investment potential that they are no good sons of bitches and he’ll take every last dime if he gets a chance. (Excepting campaign donors, that is).
And people wonder why this is happening. As they say, WTFU.
Singapore beckons.