What DOES the future hold financially?
Who knows, but I follow the writings of a guy called David P. Goldman, a former N.Y. Financier who know owns a newspaper called, The Asia Times' in Hongkong (Goldman bought it from a Thai billionaire) I'll post Goldman's biography in a second post. Just one addition from me - he claims to have voted for Trump in 2016 and I'd think of him as a Republican.
His P.O.V. being close to both the USA and Asian interests is interesting - he has the view that inflation is going to be a huge problem and that changes in the way the world trades may see the USA lose all the free loans they have been getting from world trade being based on the US dollar,
On May 12, the AT published his article:
Few places to hide from the inflation train wreck
Link: https://asiatimes.com/2021/05/few-places-to-hide-from-the-inflation-train-wreck/
and
US fiscal profligacy and the impending crisis Gold man writes - Massive demand-side stimulus combined with constraints on the supply-side in the form of higher taxes is a sure recipe for inflation and eventual recession. "It is hard to avoid the conclusion that the Biden administration’s fiscal irresponsibility arises from a cynical political calculation." ---------------------- I've been telling friends (in Aust) who have recently borrowed money at historically low interest rates to prepare for much higher rates. Biden has stated (as reported in Aust. news) that he will implement a plan to spend 2 trillion dollars to repair the USA's infrastructure. The only way he can get that sort of money is to borrow. What do you think that will do to interest rates? |