{"id":15642,"date":"2017-07-24T19:29:26","date_gmt":"2017-07-24T23:29:26","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15642"},"modified":"2017-07-24T19:29:26","modified_gmt":"2017-07-24T23:29:26","slug":"bob-doll-lack-of-infrastructure-stimulus-might-benefit-stocks","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/24\/bob-doll-lack-of-infrastructure-stimulus-might-benefit-stocks\/","title":{"rendered":"Bob Doll: Lack of\u00a0 infrastructure stimulus might benefit stocks"},"content":{"rendered":"

Bob Doll at Nuveen makes a good point about Trump’s failure to get infrastructure spending through the House.<\/p>\n

Washington, D.C. seems mired in gridlock, despite the fact that Republicans control the House, Senate and White House. No significant economic legislation has been passed, and the optimism from January about health care reform, infrastructure spending and tax cuts has all but vanished. Political attention will soon be focused on the 2018 midterm elections, and the window for pro-growth policy action is closing.<\/p>\n

The lack of fiscal stimulus is disappointing, but it comes with a silver lining: We are unlikely to see the significant and sharp advance in interest rates or in the U.S. dollar that would probably result from such stimulus. The lost opportunity on the political front might therefore have the ironic effect of prolonging the bull market in stocks.<\/p><\/blockquote>\n

It seems crazy when you consider that both Clinton and Trump campaigned on a platform of major infrastructure programs to boost the economy. Just shows how dysfunctional Washington has become.<\/p>\n

But I agree with the silver lining. Infrastructure spending would have boosted employment — the US is already below its long-term natural rate of unemployment — and upward pressure on wage rates. Which would have drawn a sharp increase in interest rates from the Fed, to combat inflation. Populist policies often ignore the hidden\/unforeseen consequences and can produce the opposite result to that intended.<\/p>\n

\"Unemployment<\/p>\n

Source: Weekly Investment Commentary from Bob Doll | Nuveen<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bob Doll at Nuveen makes a good point about Trump’s failure to get infrastructure spending through the House. Washington, D.C. seems mired in gridlock, despite the fact that Republicans control the House, Senate and White House. No significant economic legislation has been passed, and the optimism from January about health care reform, infrastructure spending and … <\/p>\n

Continue reading “Bob Doll: Lack of\u00a0 infrastructure stimulus might benefit stocks”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,46,13,34],"tags":[],"class_list":["post-15642","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-deficit-spending-employment","category-inflation-economy","category-us-canada-countries-regions"],"yoast_head":"\nBob Doll: Lack of\u00a0 infrastructure stimulus might benefit stocks - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bob Doll: Lack of\u00a0 infrastructure stimulus might benefit stocks - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Bob Doll at Nuveen makes a good point about Trump’s failure to get infrastructure spending through the House. 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The term should be 10 to 20 years so that business can make long-term plans. Stimulus spending should focus on\u2026","rel":"","context":"In "US & Canada"","block_context":{"text":"US & Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11517,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/02\/01\/an-unconventional-truth-by-nouriel-roubini-project-syndicate\/","url_meta":{"origin":15642,"position":1},"title":"An Unconventional Truth by Nouriel Roubini – Project Syndicate","author":"ColinTwiggs","date":"February 1, 2015","format":false,"excerpt":"Nouriel Roubini argues for increased infrastructure investment to accompany monetary easing, else the benefits of the latter will not last: Simply put, we live in a world in which there is too much supply and too little demand. The result is persistent disinflationary, if not deflationary, pressure, despite aggressive monetary\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22464,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/05\/the-slowing-recovery-needs-stimulus-but-there-is-a-cost\/","url_meta":{"origin":15642,"position":2},"title":"The slowing recovery needs stimulus but there is a cost","author":"Colin Twiggs","date":"November 5, 2020","format":false,"excerpt":"Last week I spoke of a W-shaped recession as COVID-19 cases soared to new highs. The jobs recovery is slowing, with total non-farm payroll at -6.4% (Sep20 compared to Sep19), still well below the 2009 low of -5.0%. 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The Fed will have to raise real interest rates in order to\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/9xUHrG549hY\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":22504,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/07\/asx-and-the-long-run\/","url_meta":{"origin":15642,"position":4},"title":"ASX and the long run","author":"Colin Twiggs","date":"November 7, 2020","format":false,"excerpt":"The ASX 200 is testing resistance at 6200 but declining Money Flow continues to warn of selling pressure. There is a lot of \"noise\" in the market at present -- due to COVID-19 easing, government stimulus, RBA rate cuts and political turmoil in the USA -- so we are wary\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19880,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/03\/07\/australia-the-bear-case\/","url_meta":{"origin":15642,"position":5},"title":"Australia: The bear case","author":"Colin Twiggs","date":"March 7, 2020","format":false,"excerpt":"The RBA cut the cash rate by 25 basis points on Wednesday this week, to a record low of 0.50%. This was necessary in order to limit the interest rate differential with the US and protect the currency. But it will not do much to help the economy. 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