23 Minutes, 22 Slides
John discusses his two latest articles: 'Deflation
Shock Coming? May 9th and Deflation
Shock Coming? Part 2: Even Here May 15th in the context of the Inflation
or Deflation debate and the implications for:
- Asset prices (especially stocks and real estate which look highly vulnerable
here) and
- Policy in 2015 (when most of the major economies should be back to aggressive
QE).
Paradox of Inflation
We have two worlds. One in the emerging markets and developing economies who
are fighting inflation and in the developed economies who have signs of continued
deflationary pressures. Now we are seeing inflation falling rapidly in China
and Europe while producer prices just jumped in the US? What is going on?
Gord suggests we will have both in a specific sequence with regional counter-currents
with his biggest inflationary worry being food.
Food Prices
Food price increases are politically destabilizing and bring predictable social
unrest. The recent rapid rise in food prices should now be a concern.
There is no sure outcome to the debate but many of the signals that give us
directional clues are now emerging. Join Gordon and John as they explore the
subject.
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