Cutting taxes was not necessarily a bad idea. But increased spending eliminated the benefit. So did the ‘tariff’ program, which acts as a tax increase on Americans.
More from Bill Bonner
Thunderclouds Overhead
The gap between the charged-up price action on Wall Street…and the depressing ground of the macro world….must be closed. What will spark a correction, we don’t know.
The Great Pruning
Major innovations begin by destroying wealth. New tech — from internal combustion engines to dot-coms to AI — offers to cut costs for both consumers and producers. AI may be exceptionally deflationary.
Bill Bonner is the editor for
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