This article shows how all sorts of assets, commodities, currencies have been deflating in terms of gold. The author suggests we’re in a global deflationary spiral, despite central banks’ (in the EU, US and Japan) efforts to prevent this. The author’s analysis reinforces the golden rule of economics – there’s no such thing as a free lunch…. even monetary policy cannot circumvent this rule. A great read.
Long View: Historian sees S&P fall to 400
Napier talks about how most portfolios are constructed within the current low to negative interest rate environment and how he envisions an adjustment upwards in real interest rates which he calls the “Great Reset”.
Napier also says that the lows in 2009 were not the real lows. Markets didn’t capitulate and valuations never reached the lows in previous market crashes.
A great interview with Bill Gross. The topic is the destiny of US treasury rates, credit standing, and interesting trades he’s made for the largest bond fund in the world. Enjoy.