Here’s a nice bit of global macro perspective on the state of different economies in the business cycle. Clearly, this is an approximation, but I have a feeling they’re pretty close to right here:
Source: Morgan Stanley
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.