Repost from 8-11-2021
“[I]t’s worth taking a detour into the past, because it looks to me as though we are at the 10th anniversary of a major turning point. There could be some important lessons.”
USAGOLD note: According to Bloomberg’s John Authers, 2011 served as a major turning point for market sentiment – a time when markets began acting as if inflation was unlikely to be a problem in the future. This editorial reflects on whether or not we are entering a new turning point ten years later – “a brief resurgence of fear that inflation really could happen, and that there is indeed a limit to what central banks can do with low bond yields.” Authers does not draw any hard conclusions, but he does raise an interesting question or two.