Goldman Sachs advice on Build Back Better a bad economic call


When Goldman Sachs talks, people usually ­listen because the smart guys who run the company often make good calls on markets.

But they’ve also been wrong and it’s usually when ideology about how to best spur economic growth starts seeping into the firm’s forecasting models. 

There’s a pretty solid list of their economic misses, which I don’t have room to fully detail, but here’s what I’m betting will be their latest: The firm’s recent guidance that the demise of President Biden’s tax-and-spend fiasco — known as Build Back Better — will somehow slow the US economy.

Yes, of all the things we must worry about these days (like possible new COVID lockdowns), Goldman’s economic team wants us to believe the economy will suffer because Sen. Joe Manchin put a stake through the heart of something that raised taxes…

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