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by T-A
3140 days ago
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> Could this be a result of Ireland being somewhat of a tax haven? In short, no. It's not as if the EU lacks capital markets. Also: "Is anyone really so naive to imagine that these balances are not already fully available to finance new investments by U.S. companies here? Do they think the global financial system is that unsophisticated? At present interest rate levels, a company needs only to issue debt at favorable rates in the U.S., invest the funds held abroad at floating rates, enter a fixed-floating interest rate swap, and voila, the company has access to the funds exactly as if they had been brought home. Indeed, this is just what many U.S. corporations appear to have done. So cry me some crocodile tears for companies that hold profits abroad." [1] [1] https://www.hussmanfunds.com/wmc/wmc170821.htm |
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