Macro Voices MacroVoices #483 Vincent Deluard: MAGA vs. Corporate America
65 snips
Jun 5, 2025 
Vincent Deluard, a Global Macro Strategist at StoneX, dives into how the MAGA movement may influence corporate America, particularly through potential tax reforms. He argues that recessions are becoming irrelevant thanks to monetary policy. Deluard also explores how demographic shifts and healthcare costs impact market dynamics, while analyzing the evolving landscape of U.S.-China relations amidst geopolitical tensions. He provides insights on upcoming market corrections and the changing frequency of economic downturns since the 2008 crisis.
AI Snips
Chapters
Transcript
Episode notes
MAGA's Tax Strategy on Corporations
- The MAGA movement targets corporate profits through taxation while protecting wages.
- This shifts the economic balance from corporate profits toward wages and consumption over time.
US Losing Its Foreign Capital Appeal
- The US risks losing foreign capital as new policies impose more taxes and restrictions on foreign investors.
- A prolonged cycle favoring international stocks over US equity is likely ahead.
Why Recessions Are Cancelled
- Recessions are becoming scarce due to constant fiscal stimulus and structural economic changes.
- Aging populations and rising healthcare costs create a baseline economic growth preventing typical recessions.