The app for independent voices

I think it would be useful to look at what’s driving those earnings. In my view a lot of it has to do with massive fiscal stimulus, a lot of borrowing by businesses and consumers, inflation, and accounting gimmicks. I don’t see an economy growing that strongly organically productively. Even the big tech companies are focused on social media, advertising & other activities that aren’t adding to the productive capacity of the economy. For those reasons I don’t see the current situation as sustainable - fiscal policy and borrowing aren’t sustainable and will have to drop.

Aug 20
at
11:29 AM

Log in or sign up

Join the most interesting and insightful discussions.