“Feel the ‘Bern'”
“The task in front of Congress over the coming week boils down to a basic question: Does Washington work for all of us or just for those at the top?”
This is trickle-down economics in the extreme, and what’s particularly amusing about that as it relates to markets is that the presumed “wealth effect” of QE was trickle-down in nature as well.
I guess my question for all the “working families” the GOP tax bill is supposed to help would be this: how many real estate LLCs do you have stakes in?
Nobody pull the wrong block.
Don’t forget to laugh.
A snowy hike and so much more.
“How can you be “rationally exuberant” about the path of US stocks in 2018 when equity valuations are so high?”
“While we have talked a lot about the effects of growing wealth and opportunity disparities in America, we haven’t talked enough about”…
“They are scribbling in the margins. What could go wrong?”
“Not a single member of this chamber has read the bill.”
“But here is another idea. Although I agree the tax cuts are far from being priced in, what if this change causes a massive rotation out of growth and into value/financial/stocks-that-benefit-most from tax cuts, and in doing so, causes volatility to rise? If volatility rises, then for a whole host of different reasons, market participants will be forced to de-lever their stock portfolios.”
Ok, look: if you’re still hungover from a combination of turkey, greasy mashed potatoes, and copious amounts of not-quite-top-shelf red wine, it’s time to snap out of it because last week is melting into this week as tends to happen historically on Sundays.
One of the caveats in Goldman’s outlook centered around the idea that tax cuts might not materialize or, perhaps more appropriately, that this process will continue to be so fraught as to make it a source of ongoing angst as opposed to a reason to celebrate.