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BAM believes it can generate strong results in any case, owing to its size, global reach and operating skills. However, Mr. Flatt has repeatedly cautioned that we are deep into an economic expansion, and Brookfield is prepared should the global economy turn (although he has not been forecasting an imminent recession).
In his second-quarter letter to shareholders, Mr. Flatt was optimistic, saying
The global business environment continues to be constructive, despite the constant political distractions. The U.S. economy is slowing but still remarkably resilient and, with