“Crisis cycle” view – Former Goldman CEO Lloyd Blankfein told CNBC the U.S. tends to see a major economic crisis every 4–5 years, and the next one may be approaching.
Red flags –
Surge in private credit (AUM +14.5% y/y), with insurers and others adding leverage.
Crisis drivers – Likely to come from leverage in less visible parts of the system, not from traditional trade flows.
Fed likely to cut rates, supporting growth.
He is “100% in on equities.”
Goldman alignment – His outlook mirrors Goldman’s view that the U.S. is entering a new secular bull market with opportunities in tech, services, manufacturing, and global diversification.
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