"...when the easy money dries up (making massive buybacks and blockbuster M&A more expensive), corporate America may wish it had invested a little less in chasing an equity rally and a little more in growth, efficiency, and productivity."

The Death Of Capex In 8 Charts

"...Of course, if leverage is going up today because it’s funding tomorrow’s growth that might not be a bad thing. Unfortunately, that’s not what’s going on.

Read more: http://www.zerohedge.com/news/2015-06-14/death-capex-8-charts