Thanks, Fed! Why The Stock-Buyback Swindle Is Anti-Growth

It is anything but normal. Before the 1980s, corporations rarely repurchased shares of their own stock. When they started to, it was typically a defensive move intended to fend off raiders, who were drawn to cash piles on a company’s balance sheet. By contrast, according to Federal Reserve data compiled by Goldman Sachs, over the past nine years, corporations have put more money into their own stocks—an astonishing $3.8 trillion—than every other type of investor (individuals, mutual funds, pension funds, foreign investors) combined.

www.theatlantic.com/magazine/archive/2019/08/the-stock-buyback-swindle/592774/?utm_source=twitter&utm_medium=social&utm_campaign=share