Editorials.

This article presents information related to political developments in the United States. Almost no investment funds are raised through new stock offerings; in fact, thanks to buybacks and takeovers, nonfinancial firms have actually retired $733 billion more stock than they've freshly issued since today's bull was born in 1982. There's no statistical relation between stock performance and real investment, and the I 990s are shaping up as one of the weakest decades this century in terms of G.D.P. growth. A leading player is the corporate-funded Democratic Leadership Council (DLC), which for months has been preparing for presidential candidate William J. Clinton second administration.