November 2025 Trading Outlook: Fiscal Flows, Bank Credit, And Fed Policy Implications

This report applies the sectoral balance framework to assess how fiscal and monetary dynamics are shaping risk asset performance. With inflation cooling, unemployment rising, and the Federal Reserve signaling a shift in policy, the interplay between fiscalTrading real estate, equity and bond markets using fiscal flow analysis, functional finance, demographics and the real estate cycle.I stand on the shoulders of giants such as the work of Professors Wynne Godley, Micheal Hudson, Steve Keen, and William Mitc ...