3 ms·
Jeremy Grantham says $1.9T stimulus will make the stock market bubble even worse
- throwaway4good 6y agoSure ... but it is going to make the crypto market bubble even further ... nothing like millions of bored people sitting at home with extra cash on their hands.
- easyas101110110 6y agoThis is a specious, chicken-little argument. The marginal propensity to consume (MPC) of people on the edge is nearly 100%, and that consumption will inevitably lead to both corporate profits AND people getting what they think they absolutely need. Should we cut off our noses to spite our faces? Maybe stimulus checks should be extra conveniently issued in Nixon bucks that are only redeemable at actual hipster small businesses, that take 3 hours to make a cup of coffee, such that inner-city and food desert people can't practically use them?