Monday, November 23, 2020

Tag: Peak Bull: Fake Economy

Peak Bull: Fake Economy, and Fake News

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by David Stockman, DailyReckoning:
The American economy has been mangled by decades of assault on capitalist prosperity.

Growth is now dying because the Federal Reserve’s hit on corporate America that has strip-mined its balance sheets to feed the halls of Wall Street. Trillions of dollars have been thrown into financial engineering (stock buybacks, M&A deals and leveraged recaps) while neglecting real investment and productivity in Flyover America.