US companies are hording more than $2.5 trillion in cash in overseas accounts. This is about 70% of the quantitative easing between 2008 and 2014.
According to reports last September US companies were hording $2.5 trillion in overseas accounts. Apple just announced that it has $247 billion in cash and about 94% of it is held in overseas accounts. Other cash hoarders include Microsoft, Oracle and Cisco.
Below is a chart of total assets of all Federal Reserve Banks.
Between 2008 and 2014, assets grew by about $3.5 trillion. US companies are hording about 70% of that amount in cash overseas.
Click here to read the rest of the article. Article originally published in Price Action Lab Blog.
If you have any questions or comments, happy to connect on Twitter: @mikeharrisNY