US companies have bought back $7 trillion of stock over the years. The Republicans are saying socialism is destroying the country, but it isn't socialism, says Nader, it's crony capitalism that's doing it.
Tuesday, November 6, 2018
Nader Deconstructs Apple
Apple are going to buy back $1 billion of its shares. Ralph Nader says they have so much money they don't know what to do when it. Under Steve Jobs Apple did but own one cent, but dunce he has gone they have borrowed $1.5 billion. Nader says why didn't they pay fair share of taxes, or pay its workers a decent wage, or invest in its company, or spend some money ensuring that discarded i Phones don't harm the environment?
US companies have bought back $7 trillion of stock over the years. The Republicans are saying socialism is destroying the country, but it isn't socialism, says Nader, it's crony capitalism that's doing it.
US companies have bought back $7 trillion of stock over the years. The Republicans are saying socialism is destroying the country, but it isn't socialism, says Nader, it's crony capitalism that's doing it.
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7 comments:
Kaivey,
Yo..... moron Nader thinks the US Environmental Protection Agency has to get its munnie from Apple Computer....
Equity is the highest cost of capital. So buying back shares is reducing the most expensive capital. Yes, it would be nice if companies had better tings to invest in but...
Matt,
So... everyone else thinks the government is running out of money. So what!!!
Due to heavy government privilege for private credit creation, debt financed stock buybacks are, in essence, the use of the PUBLIC'S credit but for PRIVATE gain.
Moreover, the excuse for heavy government privilege for private credit creation, the Gold Standard, when full fledged* fiat was too expensive for the non-bank private sector to use without making the price of gold too high for most anything else (such as wedding bands) is long gone and good riddance(!).
Now, with inexpensive fiat, the entire non-bank private sector might use the Nation's fiat directly via individual, State and local government, business, etc. inherently risk-free debit/checking accounts at the Central Bank or Treasury itself alongside those of the banks, etc. This would allow the banks to be completely de-privileged over time in a just, responsible manner.
But then wouldn't interest rates go up? If so, interest rates in fiat could be lowered in a just manner via equal fiat distributions to all citizens.
*either gold coins or Gold Certificates backed by gold bullion.
“So... everyone else thinks the government is running out of money. So what!!!”
That’s not the way you are presenting it...
You’re Presenting it like Nader has all of this great economic insight...
Bernie and Corbyn's team don't quite get it either, but they're on right track.
They are not on the right track...
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