So much for the “Roaring ‘20’s”. We now have a “stagflation” situation, whereby “inflation” and “stagnation” previously thought to be mutually exclusive are now concurrently prevalent. The global economy faces a series of worsening supply shocks – still widely underestimated and predicted to be “transitory” - for which financial markets are ill prepared and central banks impotent to resolve. Are the 40-year rates and 13-year growth-stock bull markets now over, usurped by a 1970s redux?
06 Oct 2021
Posted by Barry Norris