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Thoughtful Money with Adam Taggart
Fiscal Spending Is Having A FAR Bigger Impact Than Investors Realize | Kevin Muir, The Macro Tourist
Dec 28, 2023
Market veteran Kevin Muir, founder and editor of The Macro Tourist, discusses the underestimated impact of fiscal spending and stimulus measures on the global economy. They explore the slow implementation of infrastructure spending, the potential consequences of continued fiscal spending leading up to the 2024 elections, and the historical use of gold as an inflation hedge. They also delve into the possibility of a recession affecting Trump's reelection chances and the importance of considering future inflation when setting policy.
01:15:44
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Quick takeaways
- Fiscal spending is having a far bigger impact than investors currently realize, and the fiscal flood has only just begun.
- The COVID-19 pandemic has led to significant changes in the global economy and financial markets, requiring a reassessment of traditional playbooks and investment strategies.
Deep dives
The Power of Fiscal Stimulus
The podcast episode discusses the significant impact of fiscal stimulus on the economy, highlighting that fiscal measures have often been underestimated. The host explains that monetary stimulus alone has been less effective in previous cycles, leading to the realization that fiscal spending can have a stronger influence. The speaker emphasizes that despite the assumption that all the money has been distributed, there is still a substantial amount of unspent funds from infrastructure programs like the inflation reduction act. The slow pace of government spending and the gradual implementation of infrastructure projects imply that the economic effects of fiscal stimulus are likely to be felt over a more extended period than anticipated. Overall, the episode highlights the ongoing importance of fiscal measures and the role they play in shaping the economy.
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