Thread by @jam_croissant

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 1/x prepandemic subpar growth was a result of deflationary pressures borne out of 40 yrs of supplyside & monetary pol driven Econ policy. ‘Productivity’ has dramatically declined as $$ has been shepherded
towards deflationary forces that have served to winnow the middle class

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 2/x like globalization, tech replacement of labor, removal of labor rights, a lack of antitrust enforcement, NTM the forces of malinvestment & leverage cap structure. This has hollowed out the growth consumption engine of the US consumer and degraded the fabric of US society that

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 3/x once served as a major driver for the US as a magnet for those in pursuit of the American dream... But not all is lost. I think if we continue down the same path, yes we will get the same results, but to ignore the changes in economic policy and declare it is back to business

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 4/x as usual, ignores the acceleration in trends driven by the pandemic, & the driving political force that inequality has become...We have wholly moved to demand side driven econ policy, & its popularity shows no signs of abating. This represents a regime change, & though

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 5/x in the ST though this will drive significant challenges for multiples & equity valuations, it will drive significant long term growth benefits. Better healthcare, education, infrastructure, & a thriving middle class have well documented growth multipliers & should eventually

@Garrison1Boston @DougKass @andrewrsorkin @BeckyQuick @SquawkCNBC 6/6 kickoff secular economic growth that should get us back above trend. NTM the monetization of debt that should come from significantly above trend inflation...