Yeah. This is Going to End Well.
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From this Bloomberg story
comes more evidence that corporate America and the financial industry
continue to push further into uncharted territory with debt levels at big
companies surging past previous record highs and an increasing share being
used to finance such society-benefiting activities like share buybacks and
acquisitions as shown below.
Of course, the Federal Reserve has nothing to do with this alarming trend
and former Fed Chief Ben Bernanke would be the first to tell you so, as he
did yesterday with William Cohen in this offering
from the NY Times Deal Book blog:
“The low rate of interest isn’t something that God gave us here,” he
explained. “It’s something that is a feature of the economy.”
“So”, in the words of Jesse Pinkman (and Walter White), “There’s that”.
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