America’s Economy Is No. 1. That Means Trouble.
Solid growth, big deficits and a strong dollar stir
memories of past crises.
The overstimulated superpower
Ruchir Sharma:
Conventional forecasting models have been more off the
mark than usual in this post-pandemic recovery. But why? Perhaps the most
overlooked explanation for American resilience is that, far more than other
developed countries, the US kept stimulating its economy well after the
recession of 2020 was over.
Some of that fiscal and monetary stimulus is still
coursing through the system, keeping growth artificially high and inflating
both consumer and asset prices.