Summary: The media overflow with hysterical predictions about the next four years, but few well-grounded visions. Here is a brief look at some of what we can expect, and why, and what these events reveal about ourselves.
What makes America great? Great for whom?
Investors have pushed US stock to near-record valuations (record valuations on price to growth basis) on the belief that the Trump administration will enact a massive fiscal stimulus — tax cuts (mostly for the rich) plus infrastructure and military spending — resulting in another round of fantastic fiscal deficits. Just as hard-rock conservatives Reagan and Bush Jr. did.
Skeptics’ rebuttal points to the eight years of Republican criticism of Obama’s deficits — deficits which prevented the 2008 crash from starting a depression and supported the economy during its long, slow recovery. How could the GOP justify massive deficits now, during an expansion? Conservative’s beliefs and history…
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