Why Recessions Are Dead & How to Invest in The Debasement Era | Macro Investor Vincent Deluard

Why do recessions feel like a relic of the past?

Macro strategist Vincent Deluard argues we’ve entered an era where fiscal dominance, structural inflation, and relentless asset debasement reshape how capital flows and how investors must position themselves.

We cover the U.S. supercycle, the role of tech and energy, why the “2% inflation target” is dead, and what a portfolio looks like in the age of permanent stimulus.

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TIMESTAMPS

0:00 Intro

3:33 The Next 10 Years

5:47 The Mind of a Pension Fund Manager

8:25 US Dominance

26:17 Dominance Shift

37:21 AI Bubble?

41:19 Inflationary Forces

52:40 Inflationista Thesis

58:36 Fiscal Dominance

1:03:38 Trump vs The Fed

1:09:41 Are Debt Cycles Inevitable?

1:12:26 Are Recessions Dead?

1:20:27 Portfolio Construction

1:26:21 Emerging Markets

1:33:45 Gold

1:37:42 Closing & Disclaimers

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RESOURCES

Vincent Deluard

https://x.com/vincentdeluard

StoneX

https://www.stonex.com/en/

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