Stupid "Economist"
Jan. 30th, 2009 12:01 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
howeirdHeard the stupidest quote from an alleged economist on the radio this morning. This clown said that it was a good thing Exxon posted record high profits for the second year in a row** because "at least there's one American company making a profit".
What bozo doesn't understand is Exxon is taking money out of the economy at record rates, and hoarding it in their own gynormous corporate bank account. Almost every company in America has been drained to make Exxon rich - higher gas prices --> higher shipping and heating prices --> less profit for all non-oil-producing companies.
Add to this the fact that Exxon's stock price has been basically steady since 2007, and they pay one of the lowest dividends on the NYSE (2% per year), and you get one disgustingly greedy company.
**That's not just record high for Exxon, but also record high for every publicly traded company in the world.
What bozo doesn't understand is Exxon is taking money out of the economy at record rates, and hoarding it in their own gynormous corporate bank account. Almost every company in America has been drained to make Exxon rich - higher gas prices --> higher shipping and heating prices --> less profit for all non-oil-producing companies.
Add to this the fact that Exxon's stock price has been basically steady since 2007, and they pay one of the lowest dividends on the NYSE (2% per year), and you get one disgustingly greedy company.
**That's not just record high for Exxon, but also record high for every publicly traded company in the world.
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