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class? i think not. i have to agree with jamie diamond on this. davos is a counterindicator for how most of the population is feeling. it s true that ceos are buoyant. they are excited about the trump tax cuts. more than his speech, they were looking attacks cuts, certain deregulation in the u.s. my concern is really this is a short-term fix and band-aid. that tax cut didn t have a quid pro quo. it s happening in sectors not as labor intensive. the technology sector will do a lot but they don t employ a lot of people. a lot of it will go into share buy back. that will bolster the top 20% but won t do a lot for the lower 80.
indicator for how most of the population is feeling. it s true ceos were buoyant and i spoke to many. they are excited about the trump tax cuts. more than his speech, they were looking at what s been done so far. the tax cuts and deregulation in the u.s. my concern is really this is a short-term fix and band-aid. that tax cut didn t have a quit kwo p quid proquo it s happening in sectors not as labor intensive. the technology sector will do a lot but they don t employ a lot of people. a lot of it will go into share buy back. that won t do a lot for the lower 80. ian bremer, you tweeted there this is not just this speech but the last couple of speeches that
cut. we are seeing some bonuses from some companies across the board. speak to us about the volume and the benefit for shareholders all these have been in the last month. the president and his sons again like to take credit or they like to give the administration credit for the stock market soaring but one of the things that s really pushed these stocks up are share buy backs and companies are able to do share buy backs when they are flush with cash when they get a big tax cut. exactly right. one of the debates before the tax bill passed was whether or not companies were going to invest in expansion in hiring new workers in higher wages or whether they were going to distribute this wind fall that they were getting in the form of dividends and stock buy backs. this any case that was just now we re starting to see the evidence come in. the evidence is a lot of it is going to those dividends in
most banks are in pretty good shape. they have the assets and cash reserves to survive something leak that if it were to happen again and citigroup a notable exception, but, like today we were getting hints of this. and we have a c.e.o. from ameritrade. good news? guest: good news. restores confidence that they are in stronger financial shape. you saw in the last hour the market j.p. morgan increased dividend. neil: someone knew what was going on. guest: it telegraphed the good news and they announced a share buy back and the stocks shot up 7 percent and all the big banks. certainly wells fargo, as well. so, for the committee to keep gone you have to have a healthy banking system. they go hand in hand.