The Reaganomics approach doesn't work. Its foolhardy to suggest as a thesis and historical fact that the rich rotate tax gains into consumption of proportionate CAPEX - they rotate it into financial assets or tax efficient hard assets which don't employ labor. If it worked so well, then in principle they should cut taxes to zero - an obvious absurdity.
Its a fallacy and hence the reason the previous government (wrongly) leaned into fiscal spend. Spending is not isolated to the last administration, its a fact of all administrations the past 30+ years.
No one needs a person like Musk, because his underlying principals are not civic, they are self interest. The tax cuts represent trillions of dollars that need to be made up by tax payers. Yes they need to do something, but lets do it with people who have no self interested past civic duty and certainly conduct themselves better than his sanctimonious, self entitled extreme right vulgarity.
He will be out soon - the 'free' capital markets are whispering in his ear.
BHP Price at posting:
$39.23 Sentiment: Buy Disclosure: Not Held
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