Capital expenditures by U.S. non-financial companies.
Decades of slipping, slipping, slipping. You see, America HAS NOT invested in concrete things.
I’ve hated this because I’ve always seen it as a tremendous error, a cultural error from Kissinger onward that set us up in an arrogant gamble to control the table – the first thing opponents will challenge and the last thing they’ll let you keep.
In a world clamoring for calories and basics, what dumb ass proposed we could merely dispense the funding?
To make matters worse:
Wall Street simply is not doing what most people think it’s doing. Nor what most people think it should be doing. Wall Street is not even doing what it says it is doing. Wall Street is pushing a big myth that its services are essential to the functioning of the rest of the economy.