In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough reiterates his Deep #Quad4 in Q2 call by highlighting how the massive increase in oil prices cements the slowdown in real consumer spending. That, alongside, corporate profit’s (bigtime) deceleration, will be the two largest drivers of the bear market.
“Oil is up a lot this morning… it’s going to continue to slow real consumer spending into Deep #Quad 4 in Q2. The two deepest parts of #Quad4 in Q2 will be the consumer, and corporate profits.”
“Corporate profits are coming down from 87% year-over-year growth at their Cycle Peak last year in Q2; that’s why we called it #Quad2 in Q2, the mother of all #Quad2’s."
