{"id":58721,"date":"2021-07-23T18:39:36","date_gmt":"2021-07-23T23:39:36","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58721"},"modified":"2021-07-23T18:39:36","modified_gmt":"2021-07-23T23:39:36","slug":"this-is-the-biggest-bubble-ive-seen-in-my-career-dems-infrastructure-spending-could-lead-to-devastating-crash-druck-warns","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58721","title":{"rendered":"“This Is The Biggest Bubble I’ve Seen In My Career” – Dems’ Infrastructure Spending Could Lead To Devastating Crash, Druck Warns"},"content":{"rendered":"
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“This Is The Biggest Bubble I’ve Seen In My Career” – Dems’ Infrastructure Spending Could Lead To Devastating Crash, Druck Warns<\/a><\/h3>\n<\/header>\n
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This isn’t the first time billionaire investor Stanley Druckenmiller has warned that US markets\u00a0are caught up in a “raging mania” fostered by the trillions of dollars in government<\/a>\u00a0spending. Druck, an acolyte of George Soros known for his macro investing prowess (even as he complains that contemporary Fed-backstopped markets “make no sense”<\/a>) is a frequent guest on CNBC. But on Friday morning, he made a brief appearance on MSNBC’s Morning Show with Stephanie Ruhle, who seemed ill-equipped to respond to Druck’s arguments about why the Dems’ multi-trillion two-part infrastructure plan will end up hurting America’s poorest citizens.<\/p>\n

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Druckenmiller<\/em><\/p>\n

As Druck explains, the “V-shaped” economic recovery has been\u00a0“the sharpest recovery in history,”\u00a0<\/strong>noting that it took 10 years for the American economy to achieve the same gains following the start of the Great Depression.<\/p>\n

The problem is that the nearly $6 trillion allocated by Congress to combat the economic impact of COVID has been spent after the economy already finished recovering. The accelerating pace of inflation, and inability of certain businesses to hire lower-wage workers, are but byproducts of this.<\/p>\n

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Source:\u00a0Committee for a Responsible Federal Budget<\/a><\/em><\/p>\n

Moving on, Druck pointed out that the biggest economic crises of the last 100 years have largely been caused by asset bubbles and inflation.\u00a0“Inflation is a tax the poor can’t afford or avoid,”<\/strong>\u00a0Druck added.<\/p>\n

Any further stimulus spending is intended to fix a problem that, in Druck’s words, “doesn’t exist anymore.” He added:\u00a0“If I was Darth Vader and I wanted to destroy the US economy, I would do aggressive spending in the middle of an already hot economy.”<\/strong><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

“This Is The Biggest Bubble I’ve Seen In My Career” – Dems’ Infrastructure Spending Could Lead To Devastating Crash, Druck Warns This isn’t the first time billionaire investor Stanley Druckenmiller has warned that US markets\u00a0are caught up in a “raging mania” fostered by the trillions of dollars in government\u00a0spending. Druck, an acolyte of George Soros […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1806,1849,11772,501,13811,827,843,4318],"class_list":["post-58721","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bubble","tag-financial-markets","tag-infrastructure-spending","tag-market-crash","tag-stanley-druckenmiller","tag-united-states","tag-us-government","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58721"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58721\/revisions"}],"predecessor-version":[{"id":58722,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58721\/revisions\/58722"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}