Stock Buybacks Imperil Corporate Viability

Goldman Sachs just completed an analysis of corporate balance sheets and found that dividend and stock buybacks accounted for 103.8% of their free cash flow. Meaning that they were paying more out in cash than they had on hand!  Over the last year, free cash flow has...

Mauldin – MMT Could Destroy This Nation

I am back from my 14th annual Maine fishing camp. The private event at Leen’s Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors who started these outings many years ago. CNBC and others began calling it the “Shadow Fed,” but it is...