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Chief Investment Officer/Larry Light/5-10-2021
“Talk of inflation is in the air. But academic Jeremy Siegel, best known as a storied bull on stocks, tops all the inflation palaver. He thinks it will blow through the conventional expectations of 3% or so annually, up from the 1.6% inflation figure recently. In fact, Siegel believes inflation will surge a bracing 20% over the next three or four years.”
USAGOLD note: Siegel thinks stocks will do well in the runaway inflation he forecasts. “Where else are [investors] going to go?” he asks. The good professor must have forgotten how stocks fared during the inflationary 1970s. The Dow Jones Industrial Average started the 1970s at essentially 800 and finished the decade at 800 – a big loser as double-digit inflation raged. Gold, on the other hand, went from $35 to nearly $875 by the end of the decade. Apparently, a good many found another place to go.
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