The truth is that any publicly traded company is run for the benefit of the large shareholders such as investment firms, hedge funds, and pension plans. And all of these are interested in just one thing: short-term investment returns.

I used to work for one of the largest government pension plans in the country and sat through many a board meeting listening to detailed reports of money manager's investment performance. This one issue consumed 99% of the board's attention. Why? Because the better the investment performance, the lower the employer's contribution rate. And the lower the contribution rate, the less pressure on the employer's budget and the more funds that will be available for other purposes. And who were these employers? The state and all the local government entities in the state. Cities, towns, counties, police and fire departments, schools and libraries; all faced with ever increasing public demands for services without raising taxes (Who says there ain't no such thing as a free lunch?).

So, in a sense, we're all responsible for the miserable state of the economy.