Not An Economist
As we know, you can’t have infinite growth on a finite planet.
Today the crisis of overproduction has become acute and the system is maxed out. It’s reaching the end of all physical limits. In 2010, David Bianco, the head of U.S. equity strategy at Bank of America, said: “Cash is piling up faster than companies can figure out what to do with it.”
They deserve our deepest sympathy.
In 2011, US corporations were sitting on $1.6 trillion in cash. They’re desperate to invest it, but there’s nowhere profitable to put it. Tycoons like Warren Buffett and Bill Gates are begging to be taxed and are giving away billions of dollars. Of course philanthropy generates profits too, so the system ends up further saturated. The machine is grinding to a halt.