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Thu May 2, 2013, 11:33 AM

Robert Reich: The Fed, Apple, and Trickle-Down Economics

A Story for May Day: The Fed, Apple, and Trickle-Down Economics
Wednesday, May 1, 2013

The Fedís policy of keeping interest rates near zero is another form of trickle-down economics.

For evidence, look no further than Appleís decision to borrow a whopping $17 billion and turn it over to its investors in the form of dividends and stock buy-backs.

Apple is already sitting on $145 billion. But with interest rates so low, itís cheaper to borrow. This also lets Apple avoid U.S. taxes on its cash horde socked away overseas where taxes are lower.

Other big companies are doing much the same on a smaller scale. ...................(more)

The complete piece is at: http://robertreich.org/post/49368810890

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Reply Robert Reich: The Fed, Apple, and Trickle-Down Economics (Original post)
marmar May 2013 OP
eridani May 2013 #1

Response to marmar (Original post)

Fri May 3, 2013, 04:24 AM

1. And those jackasses at Fix the Debt want even more cuts.

Fuck 'em.

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