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Bloomberg/John Authers/7-9-2020
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“It is time for the investment regime to change. That is what happens after a major international financial crisis, and we certainly had one of those earlier this year. We also have a remarkably strong and persistent ancien regime, which has lasted ever since the last crisis and is in need of change. Rates and inflation have been low, inequality has grown, and American assets have massively and consistently outperformed the rest of the world.”
USAGOLD note: Authers, the long-time market analysts who commands considerable respect for his ongoing analysis, hoists the warning flag saying many of the orthodoxies under which we have operated in the past will be ‘reversed’. A must-read at the link ……