What’s driving everything from market frenzy to the embrace of US deficits? Magical thought. – The Wall Street Journal

What’s driving everything from market frenzy to the embrace of US deficits? Magical thought. – The Wall Street Journal

Wall Street bulls embracing sky-high stock values ​​and Washington poles embracing big deficits may be ideological opposites, but they have something important in common. Both feed off near zero interest rates, making stocks more valuable and debt more bearable. And both risk taking this fundamentally sound logic to extremes. The rally in everything from big […]
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