ITAÚ: Waiting for Fiscal

In Samuel Beckett’s famous play “Waiting for Godot,” the actors wait endlessly and in vain for someone who never materializes. That feeling of endless waiting is on full display in economic and financial circles; hopefully the wait for fiscal policy to join the fight against global economic weakness will not be in vain. The perverse coupling of ever more fearful IMF global growth warnings and new year-to-date highs in global equities suggest an unstable state of affairs. Self-levitating financial markets on one side, and on the other, fretting policymakers worried that it’s all about to implode and wanting to be sure history shows they gave the warning.

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