The market soared last week once Biden looked to be the winner. Now that it is basically confirmed the market is jumped even higher with S&P futures up big heading into tomorrow morning's open.
There are other factors in play here, so I am being a little tongue in cheek with the Biden analogy. The fact the Republicans kept control of the Senate was big as there won't be a watershed of liberal democratic policy overwhelming the nation.
However, regardless of who won more stimulus was likely on the way and I think the market is pricing this in (and then some). We shall see how long it takes for a stimulus deal to be passed, but either way the government is just going to create debt until the debt has no impact.
Which will happen sooner than you think. I read a study that showed for each dollar of debt created, it only creates 26 cents of GDP. That number was near 70 cents 30 years ago.
That trend could be a problem.
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