The Keynesian Stimmy Palooza—Now Comes The Morning After

Mainstream Keynesians don’t get it. There has never been any magic to fiscal and monetary “stimulus”—just the pulling forward in time of future economic activity, purchased at the expense of higher long-term debt loads and the resulting permanent drag on real growth. But in the Donald Trump enabled Covid spending palooza of 2020-2021, $6 trillion […]
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