Four years of easy money from the Federal Reserve and corporate coffers are just stuffed with cash.
Companies are increasingly using this money, not so much to expand and create jobs, but to pursue mergers and acquisitions.
So far 2013 is off to the quickest start for M&A activity since the heady Internet bubble days of 2000, according to data from Dealogic. These deals are great for the stock market, but do they create jobs?
Some deals, like the merger between Office Depot and OfficeMax, will actually eliminate jobs.
This is more than a tad ironic considering the Fed’s stated goal of continuing its bond buying programs is to get the unemployment rate down to 6.5%.
Click here to read my column in The Sunday Wall Street Journal.