MacroVoices #384 Darius Dale: Blow-Off Top Coming Before Bears Get Validated
Macro Voices
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The Brazilian Economy Is Likely to Persist for Another Quarter
There's still a compendium of factors ongoing in the U.S. economy that would suggest that the Brazilians are likely to persist for at least another quarter, perhaps another couple of quarters. So we'll start on slide 48 with the reason number one of six. We have record cash on household balance sheets. And so consumers not only have a lot of cash sitting in terms of their ability to spend into the economy, they probably feel very rich because that amount of cash is very high relative to the total amount of assets they have. Corporate debt as a percentage of nominal gross domestic income is pretty elevated. Reason four I kind of alluded to this week is that we have limited credit cycle vulnerabilities
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