Zero Hedge — In Striking Reversal, One Bank Warns That 2021 Could See The “Biggest Fiscal Contraction In History”

Summary:
However, and this goes back to BofA's key warning, "the challenge for investors is that with a divided Congress and appetites for budget austerity rising in both parties, 2021 could also become a record year via the fastest and largest fiscal contraction in history" according to Woodard who says that the "best historical comparison might be 2010-2015, which also featured a Democratic president, divided Congress, and an iceberg of austerity keeping the economy in a freeze." The next chart shows the annualized returns from that period.Hypothetical but apparently some have not got the MMT message yet.Zero HedgeIn Striking Reversal, One Bank Warns That 2021 Could See The "Biggest Fiscal Contraction In History"Tyler Durden

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