It's a hallmark of our current state, that absolute total bullshit is able to establish itself as reality.
How often have you heard that corporate America is “awash in cash.”
I never hear any of the knuckleheads on CN-BS or Foxed Business ever question the reality of this most unreal state.
If someone would lend me $1 billion, I'd be “awash in cash” too. I'd also have $1 billion in debt on my balance sheet.
That's the exact state of affairs in corporate America. The TV knuckleheads talk about all the “cash” corporate America is sitting on and completely ignore their debts!
This is the equivalent of watching a spendthrift idiot neighbor driving around in cars he can't afford and living in a house he can't make the payments on and wrongly concluding that person is “rich.”
What makes this idiotic reporting so appalling is that while you don't have access to the balance sheet of your neighbor, the financial news networks can easily read and see for themselves balance sheets of these so-called “cash rich” companies. But they don't bother. Instead they spin endless bullshit.
It's really quite amazing and evidence that if you depend on the financial news media to get your sense of the reality out there, your in grave financial danger.