Mudcat Café message #3046460 The Mudcat Café TM
Thread #133907   Message #3046460
Posted By: JohnInKansas
04-Dec-10 - 05:11 PM
Thread Name: BS: Who has all The Money?
Subject: RE: BS: Who has all The Money?
Some posts above have cited evidence that XX% of the money is now in the hands of .000Y% of the population, but similar distributions seem to be prevalent among companies as well.

While the statement is rather non-specific, a recent NY Times article -
Silicon bubble shows signs of reinflating - includes:

"Microsoft, Apple ... Google Those three companies have about $90 billion in cash on their books. McKinsey & Company calculates that the largest software and hardware companies have enough excess cash on hand to buy nearly all of the tech industry's medium-sized companies." (italics added)

Quite obviously, those cash reserves are not being used to create jobs for burger flippers in order to share the wealth.

It would have been helpful had the commentator said the largest (N - some number) companies might buy (K - another number) of the (Y - number of companies extant) but that commentator is obviously an advisor to the wealthy and doesn't need "real numbers" to speak to the rest of us.

John