Martin Schroeter, CFO of IBM, credits AI as a driving factor of his company's success of late, explaining to Mad Money's Jim Cramer that because of the data glut companies currently experience, IBM's cognitive technology is poised to help them process heavier loads of information.
Schroeter also admits that a weak US dollar is boosting the overseas business of IBM. Realizing that US dollars are purposely and systematically weakened as a matter of inflationary policy, it isn't a huge leap to also realize that many US multinational business interests benefit from that inflationary policy.
Keynesian economists generally downplay the idea that big business want inflation or benefit from it. John Marthinsen, in his book Managing in a Global Economy: Demystifying International Macroeconomics, spins it this way: "Relative to their employees, are businesses helped or harmed by inflation? Clearly businesses are not always helped. If they were, companies and industry associations would hire lobby groups and find other means to sway public opinion and policymakers toward raising the inflation rate."
This is an absolutely absurd statement. Businesses like IBM, that enjoy government mercantilist protections, don't need to lobby the government to inflate the money supply. Inflation is an ongoing mercantilist policy of the Federal Reserve. IBM needs only to position themselves to take advantage of this policy, which leaves their lobbying resources (see above) freed up to influence lawmakers on other issues.
