From Naked Capitalism here:
American manufacturers have chosen a different path. Their CEOs grow wealthy by financially strip-mining their own companies, aided and abetted by elite financiers who have only one goal: extracting as much wealth as possible from the company while putting back as little as possible into production and workers.
The heroin driving their addiction is stock buybacks—a company using its own profits (or borrowed money) to buy back the company’s own shares. This directly adds more wealth to the super-rich because stock buybacks inevitably increase the value of the shares owned by top executives and rich investors.
It is unclear whether President FuckFace will be able to reverse this trend, but it is clear that this tactic of offshoring and fucking over workers has been a deliberate, profit driven decision by our fabulous ruling class.
Manufacturing companies and the banks that financed these moves are the people who made the TrumpFuck. Much more so than racism.
How FuckFace will reverse this 40+ years of cashing out given all the assholes he has picked for his Cabinet remains to be seen. I’m extremely skeptical.