I’ve been feeling pretty chipper about the future of Arizona’s economy for the next few years at least but this presentation from famous (bear) economist David Rosenberg really shows how the U.S. and world economy are in tough shape.
Although the U.S. is at best halfway through it’s deleveraging according to Rosenberg, Arizona is way beyond that in my opinion.
Because Arizona has already gone through its economic pain, Arizona will be a bright spot in the (challenged) U.S. economy for years.
[If anyone knows were I can find deleveraging data for Arizona or Maricopa County (debt-to-asset or debt-to-income ratios), please let me know.]
Click images to enlarge.