At American Consequences, a distinctly right-leaning site, Trish Regan treats us to a rather likely preview of the debate between Kamala Harris and Mike Pence which I thought was pretty fair despite its bias. She then concludes with what she regards as the economic question that should be asked:
Why should we trade prosperity, capitalism, and freedom… for high taxes, slow growth, and economic instability?
which strikes me as a “when did you stop beating your wife” sort of question. It certainly isn’t the question I would ask. If I wanted to ask something rather pointed of the candidates, I would ask “Sweden’s economy is actually less controlled by the Swedish government than ours is by the U. S. federal government. Should the federal government control our economy more or less, why, and how would your administration accomplish that?” but that isn’t the economic question I would ask. The question I would ask is “The American Dream is becoming a less achievable goal for most Americans under both Republican and Democratic administrations. Does your administration plan to change that and how?”
Feel free to supply your own questions in the comments section.
Explain the incredible rise in the stock market while we are in a pandemic, experiencing a recession, millions about to be homeless, the BLM movement, the alt right movement, and Jeff Besoz’s net worth 175.3 billion..the American dream is less achievable…on and on and on…
To me, it’s low interest rates. And that’s a deliberate FRB policy, not the result of too much savings by consumers. The market is too high historically, but investors seem to think this is a new environment and are betting it goes higher.
They could be wrong you know.
Yield chase with ultra-low interest rates and declining real outputs.
Yield chase, eh? Who’d a thunk it.
If you have means, you can employ things like covered calls or just buy high dividend yield stocks. But the average Joe is screwed. Fixed income securities is a rigged game right now. This is a horrific policy, but understood by so few. It was set into motion in the 90’s. Thanks, Bill and Alan. It should stop.
The stop could be rocky.