Claims it will boost the dollar, job growth, new investment and the stock market are exaggerated, according to Marc Chandler, here.
He points out that overseas cash may be as high as $2 trillion but that perhaps 40 percent of it is already parked in low tax havens abroad. Why move it?
Based on the last repatriation in 2004 and 2005, when about $300 billion came home, only on the most generous reading about 250,000 new jobs were created compared to a predicted 500,000, if 2003's anemic 100,000 new private sector jobs per month is the baseline. And dollar gains could just as easily be attributed to incremental 25 basis point upticks in interest rates by the Federal Reserve.
For the full argument, follow the link above.
