Does not see stronger US GDP ahead
Blackrocks Larry Fink is on the wires with not so rosy comments about the US prospects.
- Higher deficits due to tax reform will be bad for the US
- US on path of exploding deficits
- Its improbable GDP will grow 3% with current demographics
- In an unrelated comment, he does like Wells Fargo, saying the bank is on a good new path.
Pres. Trump outlined (and I mean bullet point outlined) a tax reform plan/cut that was short on details but was under the first 100 day threshold at least. So that's good (wink-wink). The tax revenues will come from the repeal of things like state and local tax deductions and the "growth will take care of it" argument. Fink thinks otherwise and pins the headwinds to the dynamics from an aging baby booming economy.
