Petulance And Pipe Dreams On The Potomac

The American economy has been mangled by decades of statist assault on capitalist prosperity. Growth is dying because the Fed has induced corporate America to strip-mine its balance sheets and cash flows to feed the maws of Wall Street. Trillions of cash have been shunted into financial engineering (stock buybacks, M&A deals and leveraged recaps) to the neglect of real investment and productivity.