More War Means More Inflation

More War Means More Inflation

Advanced economies and emerging markets are increasingly engaged in necessary “wars” – some real, some metaphorical – that will lead to even larger fiscal deficits, more debt monetization, and higher inflation on a persistent basis. The future...
The Unavoidable Crash

The Unavoidable Crash

After years of ultra-loose fiscal, monetary, and credit policies and the onset of major negative supply shocks, stagflationary pressures are now putting the squeeze on a massive mountain of public- and private-sector debt. The mother of all economic crises looms, and...