Today's GreedBots thought that they could lay everyone else off and still be wealthy. That their almighty stocks would hold value in the face of declining profits and revenue.
They called this "the new economy", consisting of profitless internet startups and venture capital firms, in total employing about .001% of the total population.
To cash in on the non-existent "New economy", corporations laid off their workforce and used 0% poverty capital to buyback stock. Waiting for the jobless consumer to appear - the same strategy used by the self-imploding Energy industry.
It's all a figment of the imagination of the greediest society that ever walked the earth. And to say that it's going to end suddenly and violently, is an asinine understatement.
"Fourth quarter earnings estimates continue trending lower...Analysts are now expecting S&P 500 earnings per share to fall 4.4 percent year over year in the fourth quarter...Wall Street analysts entered the fourth quarter with expectations for only a 0.7 percent decline in earnings per share."
Four quarters of declining profits are in the books, and this latest quarter ending Dec. 31st, will be the fifth...
"It's called the *new* economy. Stupid"
"We don't need those old industries, we have revenueless Biotech and profitless internet"
Leveraged loans: aka. stock buybacks and *special* dividends
IPO Mutual Fund
