Monetary Matters with Jack Farley The “Biblical” Rotation Out Of U.S. Stocks | Julian Brigden on Flight from Dollar Assets, Tariffs, and Rumored “Mar-a-Lago Accord”
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Mar 9, 2025 
Julian Brigden, co-founder of Macro Intelligence 2 Partners, dives into the future of the U.S. dollar and its impact on global markets. He predicts a decline in the dollar as U.S. fiscal policies shift, pushing investors towards international stocks, especially in Europe and Australia. Brigden also discusses the troubling U.S. trade deficits and the country's growing reliance on foreign investments. Amidst fears of economic turbulence, he shares strategies for navigating the shifting landscape, emphasizing the importance of long-term investment approaches.
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Reflexive Cycle
- Since 2014, a reflexive cycle has fueled U.S. asset markets.
- Foreign capital, seeking higher yields, poured into U.S. assets, boosting economic performance and creating a dependence on foreign investment.
Santorini Analogy
- Julian Brigden uses the analogy of U.S. millennials traveling to Santorini.
- This illustrates how the U.S. sells assets to fund consumption, highlighting the current account deficit.
Significant Market Event
- Julian Brigden predicts a major market event, potentially the most significant in 40 years.
- He believes the reflexive dynamic of foreign investment in U.S. assets is unwinding.