Why aren't companies spending?

ONE of the justifications for low interest rates and quantitative easing is that reduced borrowing costs will encourage companies to invest more money - building plant, buying equipment and hiring new workers. But the record has been pretty disappointing. A survey by Standard & Poor's funds that global capital expendiure by non-financial companies is likely to decline in 2015 for the third year in succession, even though the corporate sector has an estimated $4.4 trillion on its balance...

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