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Tax Cuts and Stock Markets


Investors are happy today that a deal was reached on “tax cuts for the rich.” Lower taxes definitely help the real economy, but, except for a one-time pop, they can’t raise the stock market.

Only money/bank credit can push stock prices higher.

See here and here for explanations.

Kel Kelly is the Head of Economic and Commodity Research at an international energy and agribusiness firm. He is the author of The Case for Legalizing Capitalism. He lives in Atlanta. Send him mail.


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