Loading ...Unfortunately most of the repatriated money–as he points out–has gone for stock buybacks which boost the shares so that the top execs can cash out…little goes to new plant and equipment and new hiring–he also rightly speaks of intergenerational theft which is a phenomenon that few understand because the “financialisation” of the economy has been going on for so long…Wall St HAS looted the economy with its “sophisticated” derivative instruments…the con job is very slick and subtle and I don’t have time to skin it now–but think about just one item and u will realize what I mean=namely the phenomenon of near zero interest rates that have ROBBED savers in order to support the 900 story JPM-DB-BAC-C-WFC derivatives tower…
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