For he seems not to grasp the very basics of the subject, looking for the unseen:
Nonetheless, the message was clear. No one should despair about quitting the EU; an investment boom that consigns the standstill of the last 10 years to history is still possible.
However, the evidence for this assertion is alarmingly thin. Most companies with spare cash have preferred to milk their customers, sweat their assets and pass on the proceeds to investors through share buybacks and dividends.
That’s not just a UK trend. It can be seen in the US, where large corporations are trumpeting how much of Donald Trump’s tax cuts are being spent on wage rises and investment, although these sums are likely to be dwarfed by the amounts passed back to shareholders.
And what happens next? Shareholders can either spend or invest, it is not possible to do anything else.
This idea that investment must, can only, happen inside extant companies is just nonsense.