C-Suite Gamblers – – The Real ‘Dumb Money’ Inflating The Bubble

U. S. companies announced $141 billion of new stock buyback programs last month and $243 billion of new M&A deals. Both figures are all-time records, and according to bubblevision are further evidence that CEOs are bullish on their companies and the economic outlook.
You might say that. Then, again, it might put you in mind of swarming moths heading for a light bulb. In his excellent post yesterday, Wolf Richter didn’t bother with the long-form chart on M&A deals since, say, the turn of the century.

This post was published at David Stockmans Contra Corner by David Stockman ‘ June 3, 2015.