Diminishing Returns
It's eminently possible that everything worth saying about markets and the outlook for the economy has already been said -- for the time being, I mean.
As I put it in "High Stakes, Peak Profits," everything feels like an exercise in recitation right now. Part of that is attributable to the so-called "summer doldrums," a catch-all term for myriad seasonal phenomena and also for the generalized (and contagious) apathy on display among anyone chained to a desk.
But it's not just that. We're in su
I just realized that could you weave a story line around your missives that you have the tools to be a very good author. Sorry it took me so long.
Financial thriller or perhaps a civilization on the brink of a Mad Max dystopia rescued by a female (about time they get a Bruce Willis moment) economics professor.
I have to react to your last point, H. To the extent we investors accept the value of the artful claptrap offered by CEOs on a quarterly basis, it’s on us. Honestly, they’re just doing their job. They’re obliged not to give back piles of money they don’t need because the government decided to lower their taxes. As an investor, I feel the government needs to change its mind and rebalance the equation by raising corporate taxes to support infrastructure investments, which all agree are sorely needed. It would actually have value for the country, and business as well. It’s goodwill. The company will benefit by using the infrastructure. And in their quarterly comments CFOs can weave a narrative into their financial review about how the additional taxes impacted their management of the books. But despite the imposition of somewhat greater tax burden by the government, the report will show how surprisingly well the business managed it, nevertheless.
“Feels like nothing to write about on some days”
I’m not sure if that should not be the title for this.