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I don't exactly understand who you think is being "robbed" here. Shareholders? Because if that's the case there's little evidence of it. US equity returns have

I don't exactly understand who you think is being "robbed" here. Shareholders? Because if that's the case there's little evidence of it. US equity returns have had one of the best decades in all of history. That certainly does not support the narrative that American shareholders are being ripped off on a systematic scale.

jonny_eh 7y ago
The economy as a whole. All these companies are putting themselves at risk by taking on debt to do buybacks. As soon as there's a hiccup, this can lead to a cascading effect of bankruptcies, leading to a recession or depression.