And now… today’s Penning for your thoughts…
Good day, and a marvelous Monday to you!
Regarding the global economy, us old timers know better than the central planners of each country. There’s been a structural shift in the global economy, and the only place you can find inflation is Brazil and Russia, which also happen to be the only places you can find high yields on bonds and deposits.
The Fed admitted it in so many words last week, and this week, European Central Bank members will be out in force speaking and will probably sing from the same song sheet as the Fed did last week. That same song sheet has the words to a song that has these central planners baffled. It simply spells out that there is no inflation, to speak of, and all the kings horses and all the kings men, can’t put inflation back together again.
Chuck Butler | Daily Reconing