Prof G Markets How the Big Beautiful Bill’s Passage Will Reshape the Economy
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Jul 7, 2025 
Robert Armstrong, a U.S. financial commentator for the Financial Times, joins to dissect the implications of the recently passed GOP tax bill. He argues that the economy is playing a risky game with national debt, emphasizing a 'greed mode' in the markets. The conversation delves into the complexities of job growth, highlighting discrepancies in employment data. Armstrong also addresses the rising 'inheritocracy' and advocates for targeted wealth taxes to ensure a more equitable economic future. The discussion is both insightful and provocative!
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Markets Like Deficits Until Crisis
- Markets like government deficit spending until the debt becomes too large and causes a crisis. - We're playing a risky game of chicken with national debt, hoping the crisis happens under someone else's watch.
Greed Drives Market Optimism
- Wall Street embraces the debt because it means trillions flow into company balance sheets. - This puts markets in a 'greed mode', driving stock gains despite underlying risks.
Clean Energy Tax Credits Softened
- Clean energy's tax credit cuts were softened, avoiding the worst impact. - The sector is still hurt but not as badly as initially feared by markets.