MB Fund Podcast: Biden boom or bust?

MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Head of Advice Tim Fuller ask the trillion dollar question: Will Biden trigger a market boom or market bust?

President Joe plans to begin immediately unwinding his predecessor’s policies on immigration, climate and other issues on Wednesday with at least 15 executive actions. With these changes comes the promise of $1.9 Trillion in new stimulus to help the economy steady itself as it grapples with overcoming the pandemic, with more in the pipeline.

On the agenda:
• Senate impasse or not?
• Stimulus & Policies
• Minimum wage
• Bidencare
• Tax hike
• The Fed
• Investment implications

View the presentation slides

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Tim Fuller is Head of Advice at the MacroBusiness Fund, which is powered by Nucleus Wealth.

The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Tim Fuller is an authorised representative of Nucleus Wealth Management, a Corporate Authorised Representative of Nucleus Advice Pty Ltd – AFSL 515796.

Tim Fuller

Comments

  1. The math is the same. I don’t understand it anymore. But I put my money into a white-hot sector. Perhaps I’ll sell it for many times over and the point and laugh.

    • With democrats in charge of senate, congress and exec the chances of fascism have certainly risen. But the institutions are resilient, hopefully more so with trump appointed judges. To my mind if autocracy takes over it the will be via big tech, and they have certainly started down that track.

      • Its interesting question, having a conference call this morning, with guys not that keen on Trump as a person (I am one of them), there was general agreement that Trumps policies were in fact very good. There was a bit of a debate about running the country on Twitter (which no longer will happen), but general concern was that Biden had no real agenda, his medical reforms for universal healthcare aside (which should have been done decades ago), he thinks he was elected on an anti Trump agenda, and his green policies will cripple industry costs.

        Watched this again this morning (https://youtu.be/BiqDZlAZygU), it occurs to me, that if Biden’s fans smother free speech on the premise of unification and governing for all, the exact opposite will happen.

        • reusachtigeMEMBER

          Twitter banning Trump sealed it’s doom. Why would anyone go there now? It’s full of freaks. There’s a few of them in here like the plumber bogon and that panzy that never stops posting strange lines about his problems.

          • Agree, a bit like MB sometimes, if you cut dissent, you cut half your audience, then you lose the moral imperative to be representative. Twitter, Facebook etc. asked for Section 230 shields websites from liability for content – but then became arbiters of that content anyways.

            Suddenly they totally control national discourse. Even if they survive Biden, there will now be a major incentive for whoever follows in Trumps shoes in the Republican Party to break them apart, of even cancel their business model by repealing Section 230. The clock is ticking…

          • Google Escalates Dispute With Australia by Threatening Search Shutdown (https://www.wsj.com/articles/google-escalates-dispute-with-australia-by-threatening-search-shutdown-11611298523?mod=hp_lead_pos6) Google threatened to shut down its search engine in Australia if a proposed law requiring tech giants to pay publishers for news isn’t changed… Australian Prime Minister Scott Morrison didn’t offer any concessions Friday. His government decided to pursue a mandatory code after an effort toward voluntary protocols floundered. The parliamentary committee will release a report on the code by Feb. 12. “Australia makes our rules for things you can do in Australia,” Mr. Morrison said. “People who want to work with that in Australia, you’re very welcome. But we don’t respond to threats.”

    • left-wing fascism? Why not in this, topsy-turvey world where everyone is confused of who they are and what they believe.

  2. Christopher Kennett

    If there’s any good thing about the Biden presidency its that the USA will finally (hopefully) go hard on renewables: carbon tax, no more coal, no more oil, electric vehicles everywhere.

    Fossil-fuelled vehicles are the bane of mankind’s existence.

    • The us should be ensuring energy independence with the china threat. That means going hard on fracking.

  3. I’m sticking with my thesis that we are 3-6 months out of a bust similar to 1999.
    The US stock market is going to have a phenomenal 3 months beyond any rationality.
    The second half of this year it will be all over for a long while.

  4. Ugh at all above …. fascism, loss of freedoms, Trump policy was good, et al …. barf ~~~~~~~~~~

    Fascism is a right wing social political construct, you have rights and not freedoms, and Trump was a far right President that enacted the right wing policies that were put across his desk aka he had nothing to do with writing them E.g. advisors did that for him.

    “My quick summary: Trumpian economics failed not because of its initial deregulatory push, tax-cut agenda, and judicial appointments. Rather the MAGA agenda failed because of its turn against international trade, its autarkic approach to migration, and, most of all, due to a wildly inconsistent and essentially catastrophic response to the pandemic, all of which trace to a fundamental philosophical pathogen. The post-election antics, culminating in the mob breach of Capitol Hill security, merely put a fine point on it.
    Philosophy

    From 2015, even from his first public speeches following his presidential run, it was clear that Donald Trump was not a conservative in the Reagan tradition but was selling something of which we had no experience in politics during most lifetimes. He was reviving what I’ve called right Hegelianism that imagines the trajectory of history culminating in the ideal of a nation-state unified and managed by a great leader. In other interactions of this ideology in the interwar period, this unity is economic, social, cultural, religious, and racial.

    This is not an American ideal. It’s not about freedom, rights, the rule of law, much less the limits on government. It imagines not a head of state that manages the government but rather an overarching central leader that manages the whole country in all its aspects. The US Constitution was structured not only to prevent such a system but to work as a rebuke to it. The first three words, “We the People,” were chosen carefully to embrace a self-managing society, not one ruled by a person over and over everyone else.

    There are many instantiations of right Hegelian ideology but all end up rallying around trade protectionism, migration restrictions, and the centralization of power in the executive. These were the main themes of the 2016 Trump campaign. These themes were not, however, what drew the Republican rank and file to his candidacy. Instead, what the party regulars liked about him was his brash and aggressive willingness to stand up to his enemies. His anger and relentless attacks thrilled people in the party who were fed up with playing nice with the left. That allowed them to overlook the aspects of his ideological push that stood in hard contradiction to anything like traditional American conservatism, much less classical liberalism.” – snip

    https://www.aier.org/article/the-economic-policy-failures-of-the-trump-administration/

    Fricken Jeffrey A. Tucker of all people …… mig on all the drugs chortle ….

        • Look Trump was repugnant, and given what happened at the end, good that he went, he was a potential danger to democratic process.

          But what he stood for, his ideas, he called things out that needed highlighting, he was the first of the right wing ideologues, and he won’t be the last… and lets be honest, he got a lot done!

          • Please his macro economic policies were just pure ideological drool, but you’ll get that when macro economics gets white anted to the point of absurdity and faerie dust due to funding vectors – see revolving door thingy.

            I already posted a link to a highly respected AET author that trashed his Trumpism ***anti free market*** legacy so are we back to Nicene level editing to absolve the past so the glorious future can live on – ??????

        • reusachtigeMEMBER

          Yes it is. Commies need purging no questions asked! Bring back the bounty system I say!!!!

        • You have to substantiate the claim and show how you arrived at it …. mouthing a term is what dim cultists regurgitate because they can’t provide a rebuttal when challenged.

          BTW I think your garb would have been appropriate for the capital building side show.

    • “Fascism is a right wing social political construct, you have rights and not freedoms…”
      Trying to understand, Skip. What’s the Left’s version of Fascism? Is is distinguishable from the Right’s version & how?

    • What I agree with, is that going back to ‘normal’ (Biden et al.) is what gave us the imbecilic freak show of the last 4 years.

      Biden will need to think big, and think different, to secure a 2nd term.

      Or we end up with Ivanka. Or Hawley. Or worse.

      • Lmmao …. you have the choice[tm] of neoliberal candidate behind door number one or door number two …. because markets … rim shot …

  5. – If it’s smart, the US loosens the purse strings (maybe, depending on Wall ST dictats) to keep the masses fed and housed and the sale of new pitchforks low.
    – Leads to runaway inflation as this coincides with a point we reach where there are more vaccines available than there are people willing to have them.
    – Leads to …… ????? Any ideas???

    • Again lmmao at inflation …. shezzz after Volcker that never going to happen again … instead you have a politie that is hands off – because of markets – and the only thing the quasi monetarists can do is inject liquidity, buy prime, in the forlorn hope of manipulating spreads and how that effects flows ….