This is today's links post. And I want to highlight a theme that runs through several links today. That's pro-cyclicality. One reason I am not bearish on the US economy yet is because I think a lot of pro-cyclical activity accompanies the initial surge in interest rates. In this particular cycle, we are now seeing both fiscal and regulatory policy acting pro-cyclically as well with Trump as President.
Later in the cycle, as rates march higher, earnings will materially erode, financial distress ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.