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Originally Posted by lewdog
It will likely be effected, yes. But Biden's tax plan is hardly progressive and for most Americans the effect will be minimal.
The biggest issue we will see if deflationary pressure. It's coming regardless of who won the election as it's been happening for years. The Feds continuing to prop up the market, along with injecting money into the economy. This societal buildup of extending credit and accumulation of debt will lead to many problems in the next few years and some form of economic downturn.
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Wishful thinking with Biden- his record proves otherwise- and that is all I am going to say on that.
I completely agree with your second point though- you actually articulated much better- what I was driving at. If the market/economy downturns again to an Obama-type recession- Corporate debt and personal debt will be climbing even higher. I don't think the deficit is sustainable at these levels-let alone with another Covid bailout.
People that can track where the money will be flowing ( through financial companies and banks, tech, social media) and stay away from where the money flow will be tightening ( Housing, automotive, entertainment??) will probably come out ahead in 4 years. The rest- good luck.