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01-25-2017 07:53 AM
athough, I see the same CME Group CEO quoted somewhere yesterday as saying that the cut in corporate tax rate and repatriation of past profits ould unleash a boom.
FWIW, I've never understood why people don't understand that money is already here- the idea that it isn't is not much more than an accounting entry.
That's not to say that cutting the corporate rate isn't a good idea. But the effective rate is already around 15% after all the loopholes- it would be an equally good idea to eliminate most of them too.
BTW, I've always maintained that cutting the lower backets on the C corp tax rate is the right way to encourage small business formation. A 0 rate on 50 and maybe 10 up to 100 would permit a lot of earnings retention over time. That's not going to be a big deal for Apple, one way or th other.
For farms, the opportunities afforded with cash basis accounting might still win out.
01-25-2017 08:40 AM
Well, weather and other things we can't predict will have a lot of bearing on how the next few years play out.
But the following seems true- given normal, trendish type world yields, productive capacity now exceeds the demand base by a bit.
So I think you have to expect ample and probably increasing stocks.
Another above trend world output year in a row would be particularly tough.
If stocks were tight, what we did wouldn't matter a great deal because the buyers have to get it somewhere. When they're ample the risk is real that we could be the ones left holding them.