Give Scrooge hope for a change

Hoarder is one of those words -- like football’s Wolverine or Raven -- that leaves a bad taste in your mouth when you say it. It smacks of a Scrooge-type person hovering over piles of money and food, chasing away anyone who dares draw near.

Yet financial pundits seem elated that the cash hoards of American companies are at record levels. They point to the cash stashes as a sign an economic recovery is near. Those who despise free enterprise cite the rich balance sheets as proof that capitalism breeds greed at the expense of workers.

There’s another answer, and it harkens to the dark days of the 1930s Great Depression. Many people hoarded food, clothing, money in those days, not because they were greedy but because they’d known hunger and raggedy clothes, and they wanted to avoid being in that situation again.

Fear comes from being beaten upside the head enough not to want any more of it. Hoarding is a rational defense against the fear of poverty and bankruptcy.

By not spending, companies are being prudent, as opposed to governments that simply crank the money printing presses into high gear.

They think they can do that because they always can get more revenue by raising taxes or fees. Of course, they can’t, for the same reason companies already know they can’t keep raising prices. They’ll lose business that much faster.

The only way to un-Scrooge people or companies is to create an atmosphere where they believe they can survive and prosper. Lower energy costs and more jobs ä think natural gas and oil drilling ä will do that. So will lower taxes.

Give them hope for a change in our economy, and they’ll open those checkbooks and start spending.