tomluongo.me
The Battle of the 'Flations has Begun - Gold Goats 'n Guns
Inflation? Deflation? Stagflation? Consecutively? Concurrently?… or from a great height (apologies to Tom Stoppard). We’ve reached a pivotal moment where all of the narratives of what is actually happening have come together. And it feels confusing. But it really isn’t. The central banks have run out of room to battle deflation. QE, ZIRP, NIRP, OMT, …