This is a retired estate. blog.cfi.co was published between 2019 and 2026, largely outside CFI.co’s editorial process: much of it was templated, and part of it was supplied through a third-party content agency’s account. It also carried republished CFI.co editorial material. It is not governed by the CFI.co governance file and it is not part of CFI.co’s hashed public archive. Publishing here stopped on 30 July 2026.
193 links across 139 posts on this subdomain were commercial placements and carried no disclosure at the time. In July 2026 each link was marked. This notice is the disclosure; the posts do not carry individual dated notes. Nothing has been deleted or unpublished: every page remains at its original address.
Private balance sheets have risen relative to GDP in advanced economies in the last decades, in tandem with a trend of decline in long-term real interest rates. Asset-driven macroeconomic cycles, along with a structural trend of rising influence of finance on income growth and distribution, have become part of the landscape. Underlying secular trends of stagnation may also be suggested, making the macroeconomic dynamics dependent on the balance sheet economy getting bigger and bigger.