Click here to get this article in PDF
Financial Times/Gavyn Davies/5-31-2020
“Since 2013, there have been brief periods of strong output growth in the large economies, suggesting that the risks of secular stagnation were abating. But these cyclical upswings proved temporary and the trend decline in global long-term interest rates towards zero was never ended.”
USAGOLD note: Davies comes down on the side of stubborn disinflation as the post-pandemic paradigm.
Repost from 6-2-2020