David Stockman, a former U.S. budget director, says, “The record cash story is bull market baloney.” Stockman has credibility because he has been on a crusade against the massive deficit spending of the US government. He knows big, false numbers.
Companies that were gaining cash from retained earnings and reducing debts would have their vectors on the graphic below look like this.
This would be the position of increased cash and decrease debts. But what is actually happening is contrary to the myth that ignorant financial journalists publish.
Read the article here. It is a good one:
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