So today on CNBC Cisco CEO, Chuck Robbins explained that if they were to repatriate their offshore cash back to the US he would use the money to reward shareholders through buybacks and dividends and then do some M&A.
He claims cash distribution to shareholders in lieu of actual economic-stimulating investments creates jobs by way of mutual funds, which make the soon to be out of work Americans from his M&A activity feel good about their income….
I mean where does one even begin picking apart this absurdity of logic?? It probably is not even worthy of a detailed response. But I wanted to note, on record, that these are the type of moronic and asinine thought processes coming out of corporate America that are killing the American middle class and will destroy even most on top unless the bottom 80% are handed a stipend to go out and buy products produced by corporations. If Chuck truly believes what he says, well he is an idiot. If he has even a shred of economic acumen then he is a liar. I’ll leave it to you to decide.
This post was published at Zero Hedge on Dec 7, 2016.
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