Interest on high-grade debt increased 4% in Q2, risks are increasing, the interest coverage ratio is the lowest since 2009. There is now a record amount of debt generating a record amount of interest expense, almost all of which has been plowed into massive share repurchases simply designed to prop up the company’s stock. So where does the money come from to pay the interest? This is an American corporate horror story of unparalleled proportions. Clinton’s pathetic efforts at restoring her credibility at last week’s Congressional testimony. Obama breaks his promise of ‘no boots on the ground’ in Syria. ‘Trenton makes, the world takes’: no more. Substitute ‘China’. Tony Blair ‘apologizes’. Yeah, right! A word on ‘comparisons’. The rise of the personal storage industry to accommodate America’s addiction to hoarding. The rise of the dollar stores.
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