This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.

Macrovoices is all about the brightest minds in the world of finance

and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your

hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 489 was produced on July 17th, 2025. I'm Eric Townsend. Forty-two Macrovoices episode 489 was produced on July 17, 2025.

I'm Eric Townsend.

42 macro founder Darius Dale returns as this week's feature interview guest,

and echoing many of the same sentiments Lynn Alden shared with us last week,

Darius is bullish U.S. equities.

But he says the reason stocks will perform well over the next year

is that we've just transitioned to a new fiscal policy objective of growing our way out

of our staggering U.S. national debt. And that can only mean pro-growth, stimulative policies that are bullish U.S. equities.

But Darius says there are storm clouds on the distant horizon because growing your way out of debt

usually doesn't work. And when it doesn't, the next move will usually be to try and print your

way out of debt. And when we get to that chapter

of the story that Darius sees unfolding over the next few years, you're going to want to have

already taken profits. And I'm Patrick Suresna with the macro scoreboard week over week as of the

close of Wednesday, July 16th, 2025. The S&P 500 Index Flat week over week as of the close of Wednesday, July 16th, 2025.

The S&P 500 index flat week over week, trading at 6263.

Markets are in a holding pattern into the OPEX week.

We'll take a closer look at that chart and the key technical levels to watch in the postgame segment.

The U.S. dollar index up 83 basis points, trading at

98, 28, strengthening off its worst levels, leaving the question as if the U.S. dollar is now

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