Michael Roberts Blog 19-11-2024
https://thenextrecession.wordpress.com/2024/11/19/private-equity-vampire-capital/
(..) Over the last two decades, the vampires of private equity have gorged themselves on the profits of labour in the companies they have sweated, while avoiding sharing those profits with their investors or with governments through taxation. They engage in various forms of ‘financial engineering’ to increase their gains. And in doing so, they have leveraged key sectors of the economy into huge debt, at the expense of productive investment. Now rising debt servicing costs are adding to the risk of a major financial crash, acting as a stake through the heart of many of these vampires.
2024-12-08
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| "Private equity: vampire capital" |
