Confidential Daily Comment
Digital Detox
Cory is taking a break with his family for a week. Posts will resume on Wednesday, 18 June.
Confidential Daily Comment
Oil Shock is Fuelling Stagflation
Policy positions made for political advantage threaten to make the spectre of stagflation a problem for us all.
3 min read
Asis always the case, once the inflation genie is out of the bottle it is notoriously hard to put back in.
That's why the promised 'transitory' inflation in the United States is staying stubbornly high.
It's causing chaos in investment markets because the official inflation figure is 8.3 percent is in spite of substantial declines in fuel prices thanks to the manipulation of the US government.
Like most ill-considered policies, that manipulation has been a failure and the consequences of that will make things worse.
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