I found two parts very interesting:
"Low interest rates mean companies can issue low-cost debt and use the proceeds to repurchase shares. By reducing the share count, organizations can inflate their earnings. More than 80%of the S&P 500 companies are currently employing this strategy, and at the fastest pace since the 1990s. (Source: Perlberg, S., "GOLDMAN: Here Are The 23 Best Stocks For Fat Dividends And Huge Buybacks," Business Insider web site, October 10, 2013.)"
"As long as interest rates are artificially low, companies will continue to borrow and buy. Especially when you consider that more than 40% of the yearly gain in earnings-per-share (EPS) growth by S&P 500 companies has come from share repurchase programs. (Source: Condon, B., "Narcissist's rally led by giant stock buybacks," USA Today web site, May 18, 2013.)"
This post was edited on 12/12 at 7:22 pm