Monday, September 22, 2014

The US Ponzi Economy

...Various forms of deficit-financed government assistance and unemployment compensation have also been used to make up the shortfall, allowing consumption, and by extension, corporate revenues and profits, to be sustained.

...Keep in mind also that corporate share repurchases have no tendency to concentrate at points of depressed valuation, and but have instead been most aggressive at points that have historically represented severe overvaluation.