The U.S. economy is "growing" only because of stimulus. There have been no cleansing defaults that reduced the cost of capital. Companies didn't go bankrupt, today owned free and clear by new owners. Instead, small businesses were wiped out by lockdowns. Their defaults are in the future if the economy cannot revert back to "normal." If there is a transition to a new economic pattern, it will come with transitory unemployment and recession.
In short, this is not the start of an economic growth cycle unless there are incredibly inflationary policies. The opening of the economy is assumed. The $1.9 trillion is assumed to hit a normalized economy. The market is not discounting the risk that the economy needs far more than $1.9 trillion in stimulus. It isn't considering the risk that the public revolts again, like in 2016, and chooses not to wreck the economy for a green pipe dream. It isn't discounting the risk on the other side of the ledger, that interest rates rise amid soaring inflation. It seems like many people think the Fed can control the whole yield curve and that markets won't break if they try. As if the dollar or oil, or some other assets, won't trigger a recession. The government, central banks, ruling classes and seemingly most investors are more naive than I've seen at anytime in my life.
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