Chuck Jaffe: Vanguard’s Bogle: Donald Trump is the new John Maynard Keynes

President-elect Donald Trump’s intention to boost federal spending makes him “the new John Maynard Keynes,” investment industry icon Jack Bogle says.

The founder of mutual-fund giant The Vanguard Group predicts that U.S. stock investors will benefit — at least shorter-term — if the U.S. government puts Keynesian economics into practice. Keynes, the legendary British economist who died in 1946, proposed that governments should borrow and spend money to boost economic activity when national economies are suffering through a downturn.

”He is a Keynesian who wants to build the economy … to spend a lot of money, have the government undertake a lot of spending and borrowing in the public marketplace to add to aggregate demand for our goods and services here in the U.S.

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