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Fiscal Dynamics and Market Implications
This chapter explores the effects of the current fiscal environment on interest rates, housing values, and stock prices, arguing that high public debt may hinder the effectiveness of rate hikes. It also analyzes the distinct nature of the U.S. equity market compared to global capital flows and discusses the emerging market prospects in 2024 amidst a rate-cutting cycle. Additionally, the chapter reflects on Bitcoin's market presence and political engagement, examining demographic trends and the implications of proposed economic policies on markets.