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this post was submitted on 21 Nov 2023
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This is it and there's another wrinkle driving it IMO which is the end of QE. When rates were at sub-inflation (so basically negative) and investor capital was everywhere, none of these companies really cared about milking the customers because they were already fat and happy milking the government indirectly. Now the government cheese machine has dried up and so now we've gotta get the stock price up a quarter of a point by any means necessary instead.