bryan cranston heisenberg © Toniflap
© Toniflap

THE HEISENBERG writes: “Oh, what a difference a year makes. Thanks in no small part to tax cuts and deficit-funded, supply-side fiscal stimulus, 2018 was a record year for S&P 500 cash spending. In fact, as Goldman writes in an expansive new note, “aggregate spending on capex, R&D, cash acquisitions, dividends, and share repurchases rose by 25% to $2.8 trillion [last year]”. For those keeping score at home, that’s nearly the briskest YoY growth in three decades.”

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