It is too late for the US economy to accelerate from a cold start to 4-5% annual GDP growth as foreseen by Trump's Treasury Secretary-designate, Steve Mnuchin, and 1980s vintage supply siders like Larry Kudlow. That's because tax cuts are not magic and do not work instantaneously-----but, instead, generate economic gains gradually over time as the supply side of the economy becomes unblocked and energized.
Draining The Swamp, Part 6: The 4-5% Growth Delusion
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.