Posted on 12/26/2021 3:33:13 AM PST by Liz
Snip
We’re supposed to believe that recklessly spending tax dollars on weird Dem/prog/lib environmental gimmicks, and expansion of the federal welfare state, will put the country on the path to non-inflationary economic growth?Next thing you know, Goldman will be offering its clients shares in the Brooklyn Bridge.
To understand why a Wall Street firm that deals with wealth creators, entrepreneurs and companies embracing capitalism would support something so anti-capitalist as BBB, you have to understand what’s missing from Goldman’s economic analysis .......
Unlike stock analysts who must disclose if their firm underwrites stocks of companies that get coverage, there is no such bias disclosure on the economic side of the Wall Street business model.
The dirty little secret is that Goldman is one big cheer-leading team for John Maynard Keynes, the liberal economist who believed big government spending could goose consumer demand — and spark economic growth.
Also recall the great Keynesian experiment of the Obama years where the nation suffered through almost a decade of subpar economic growth despite mountains of post-2008 fiscal and monetary stimulus.
More recently, the Keynesians at Goldman scoffed at Trump-era supply-side economic reforms, predicting that his tax cuts would run out of steam and the economy would sputter. Neither happened, of course. And that’s essentially what they’re predicting now as Biden’s “Build Back Better” spending fiasco is going down in flames.
......political blind spots also include a modest embrace of the fad known as the Modern Monetary Theory, a school of economic thought that proposes the government borrow and spend without limits......without paying off the debt.
Manchin just proved there are limits by saving the country from the market consequences of raising taxes on businesses — and the near-certain inflationary surge BBB would have sparked. How’s that for a market call?
(Excerpt) Read more at nypost.com ...
Ted Cruz is in the pocket of Golman Sachs and would fill his administration with executives from the firm.
I believe his wife worked at G/S.
Speaking of Government Sachs, anyone heard anything about the TB outbreak at GS in NYC?
Wall Street loves inflation because corporate debt gets inflated away.
A modern bond or mortgage should have two interest rates.
A first interest rate would provide steady income - such as a 30-year fixed 3% payout rate.
A second interest rate would provide protection against inflation and might take the form of an adjustable principal increase rate, which might be tied to property tax assessments or government spending or retail prices, or a calculated mixture.
Thx.
Thanks! Haven’t seen anything else or since.
Gee, if Goldman had found a cure for TB, you’d think they’ve said something...
...they’d’ve...
Lol.......they tell only investors.
Keynes believed in using higher tax revenue from booms to provide higher spending during busts.
You can’t cheat people out of $30 trillion via inflation without some getting very upset.
Are you by any chance another person who actually studied Keynes rather the lie taught at most universities for the last 60 to 70 years. Most people only know what
democrat/Marxists think Keynesian economics is about not what Keynes actually thought.
Can you spot the Joe Biden effect on lithium prices?
http://www.dailymetalprice.com/metalpricecharts.php?c=li&u=lb&d=0
It made a Tesla much more expensive by thousands of dollars.
I’m sorry to say I only got brief overviews of Keynes, but his fiscally balanced approach was always mentioned by my teachers.
Yes, and he took campaign loans from GS that he did not disclose in violation of campaign finance laws.
The old rules and guidelines have been tossed aside.
So many people have so much money and are living so well that it is easy to think the party will go on forever.
This piece feels like the author is 10 years behind. How can you write about a global banking institution like Goldman and not bring in the great reset and ESG to help describe their motives? They want to own everything, and they aren’t going to get there with a middle class existing.
Goldman Sachs is the distillate of all economic evil in the world.
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