US Fiscal: Acute or Chronic - VP May 2024 Big Picture Discussion
Update: 2024-05-19
Description
This post is an excerpt from our May 3, 2024 market discussion video to VP clients. The full length, original video can be viewed here.
* We discuss our recent thematic report, The Structural Limits of Fiscal Policy, which dives into how politics led the US to its current state of "fiscal purgatory" and what history tells us is the most likely path forward to finance deficit spending.
* The US fiscal situation appears to be a chronic rather than acute problem, making positioning for financial repression and low real yields our preferred allocation strategy in the long run.
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.variantperception.com
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