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Morgan Stanley Credits ‘Bidenomics’ for Economic Surge
(politicalwire.com)
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this post was submitted on 24 Jul 2023
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That is quite the praise coming from a group of hardcore republicans. The is a clear message "Biden brings stability and financial markets like stability"
Also absolutely massive subsidies are flowing out of the IRA into a lot of diverse economic sectors for the purpose of fighting climate change. Estimated $1.3 trillion since it is uncapped and built largely around unit subsidies.
That is a lot of money flowing to a lot of firms. Republicans like money going to businesses.
If that number is from the CBO it's a 10 year estimate, not as big as it sounds.
And I don't think you have to decide Morgan Stanley is Republicans and Republicans like money going to businesses...Republicans voted against the IRA so that's probably incorrect. Morgan Stanley is a business and their customers are other businesses, that's one explanation.
Or, the people working at Morgan Stanley are economists and the plan makes sense to economists so they praise it, that is another explanation.
To be expected, the GOP has gone all in on evangelism, election denial, and have shown willingness to throw their traditional business values under the bus for the sake of their lead issues. The "boring democrat" tends to business better than radicalized GQP. Notably, playing chicken with the national debt was a big no-no for business minded folks.
There may be a time when they will go back to the republican party hard, but will be waiting for the Trump/Greene/Boebert/Gaetz crazy to slip into not being influential.
Ironically, if the GOP had a wider victory in the house, I wouldn't have been surprised to see the GOP marginalize the most obviously crazy and win favor among the business community again. As it stands they are having to let the craziest faction call the shots.
The Dems sliding to the right for 30 years has finally pushed the Republican Party halfway beyond the border of crazy town. The question is, after the Dems alone are the party of business, will they slide back to the left or stay conservative? And what would that look like?