Loading ...A new cycle of significantly higher and unstable inflation has taken hold. The downside of global Bubble Dynamics – a shrinking pie, insecurity, angst, and disintegrating relationships and alliances – along with conflict. The Ukrainian war, tit for tat sanctions, and the new Iron Curtain. Meanwhile, cost structures over the years have inflated tremendously in previously low-cost economies China and EM more generally. And with new Inflation Dynamics now favoring energy, commodities and hard assets over suspect financial assets, central bank liquidity injections will increasingly gravitate to real things and away from securities (reinforcing consumer price inflation and imperiling the market liquidity backstop).
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