If you're so mesmerized by the S&P that you still think Trump is "good for business", your business deserves what's coming to it.
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. It rises because of anticipation of stock buybacks by companies bringing their cash back from tax havens thanks to tax deals with USG.
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. But it would be better for the whole economy, over long term, if these companies invested the cash to increase productivity.
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. One one level it's a typical example of end-of-cycle malinvestment, enabled by cheap credit and regulatory tweaks.
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. On another level, this is a symptom of a lack of imagination (how to use that cash?) and faith in the future. Paging
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Going over old stuff and saw this. Yeah, this held up well. You might retweet.
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