This is a little outrageous. First of all, all people (including communists) love money and chase it with reckless abandonment. Most conservatives are not rich, not even close. If we describe conservatives as middle america then they are relatively just getting by. I would argue they care far more about God and family then money. While most of the elites on the coast are loaded. If we look at things like number of children per household and church attendance comparing the two, it would probably bare that out. Now, not saying that they don't care about money, simply saying they don't have much of it. A subtle difference but one none the less. One group is not better then the other. They just cluster together. Having large families is not terribly practical in San Francisco. It is in Ohio. And since there is a decent correlation between wealth and religion, it makes sense that religion is more common in say Wisconsin then NY. I always find it amusing when people on a website dedicated to financial pursuit of wealth via the pushing of buttons to lecture others on the collective good.
My first thought was the tax cut experiment would be wildly inflationary because huge deficits will increase money left in the private sector and increase nominal net savings well beyond a desirable level. This should result in upward pressure on Fed reserve accounts which will be met by the Fed selling bonds. But now, after thinking about it, I'm no longer so sure that inflation won't be easily contained, and that is because of how the additional money left in the private sector will be distributed. But yes, Trump will own it! He's a dangerous man. As much so as Hitler or Mussolini. Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power. Democracy is beautiful in theory; in practice it is a fallacy. You in America will see that some day. -- Benito Mussolini
This tax cut is a giant nothing burger. BTW, it's technically "tax reform", meaning it's suppose to be revenue neutral. Of course it's not. I'm just sayin...
I'm still waiting to see the postcard Trump promised we'd all be able to file our taxes on. That at least would have been a plausible positive outcome of a revenue neutral tax code overhaul. Of course as you pointed out, we got neither.
Yeah I wasn't terribly bullish on the tax simplification part. Simplification is code word for removing lobbyists but that will NEVER happen.
Well, it's 1.5trln of something, I'd say... It's likely to have a bigly yuge effect in the first half of 2018. After that, it remains to be seen.
Oh please tell me what it's going to do. I'm all ears... Walk me through it step by step, like I'm a 5 year old. We have a yield curve that is the flattest it's been in years. We've had trillions in balance sheet expansions not only by our FED but by the ECB and BOJ. We are at or near full employment. Corporations are sitting on 100's of billions in cash that they don't know what do with. Our credit markets are as deep as they have ever been. Credit spreads are as tight as they have ever been. Please Marty, school is in session and I'm sitting in the front row. You have my undivided attention. Tell me what is going to happen in 2018. And I hope it's better then your Goldman call.