U.S. markets closed
  • S&P 500

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    +6.50 (+0.15%)
     
  • Dow 30

    34,798.00
    +33.18 (+0.10%)
     
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    -4.54 (-0.03%)
     
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    +0.67 (+0.91%)
     
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    1,747.10
    -2.70 (-0.15%)
     
  • Silver

    22.36
    -0.31 (-1.38%)
     
  • EUR/USD

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  • 10-Yr Bond

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    +0.0500 (+3.55%)
     
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    1.3672
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  • Nikkei 225

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Politicians love their power to goose the economy and stocks but it comes at a high price

Politicians love their power to goose the economy and stocks but it comes at a high price

Rising stock and real estate values assume an American renaissance based on a renewal of the nation’s hard and soft infrastructure. It requires, in the absence of legislatively challenging tax increases, an expansion of deficits and public debt. In this context, the attractions of Modern Monetary Theory (MMT) for politicians irrespective of ideology are obvious.