I was going to stay out of this cat fight, but damn.
Here is reality:
Corporations have, over the past 4 months, moved over $900 billion out of the USA. I am well aware of this as I assisted many corporations over the past three months in doing just this.
Reason - they foresaw the stupidity of the present situation (protest on Wall St) and understand that the probability exists that Congress, and BHO, are going to find a method to tax idle corporate cash.
Before Y/E 2012 there will be an additional $1 trillion shipped off- shore.
Money 'parked' off- shore, and duly protected, can result in NO USA taxation.
Additionally these monies will go far in further eliminating the work force base in the US - the simple reason; embedded cost (wages, HC, etc.), and restrictions (I.e., EPA, etc.) are so restrictive that adding additional manufacturing capacity in the USA is absolutely a non- starter.
VC (venture capital) money has followed suit.
Is there any good news? Yes, but a lot of USA policies will need complete overhaul. As will certain state local government long term debt and CODB (cost of doing business). With these addressed it is possible that a reverse trend will occur.
Don't bet on it.
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