The liabilities side of US corporations balance sheet makes the cash holdings far less significant than they appear. When one imagines a "hoard", we don't assum

The liabilities side of US corporations balance sheet makes the cash holdings far less significant than they appear. When one imagines a "hoard", we don't assume the fire breathing dragon also has bills that match the equivalent of that hoard or beyond. The expected EU tax payments for companies like Apple take another large bite out of how much of that cash is really their own. The word "hoard" is correct ("a supply or accumulation that is hidden or carefully guarded for preservation, future use, etc.") but suggesting that this money can just be unleashed upon investors or the general population in the form of capex or wage increases is silly.