Who’s Where in the Economic Growth Cycle?

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

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Cullen Roche

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.

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