Inflation Replicator

Work in ProgressAmerica’s Most Important Economic Storyteller Is ConfusedAn old economy is dying, and a new economy is struggling to be born. Now is the time of monstrously confusing data.By Derek ThompsonAn illustration of the dollar-bill portrait of George Washington shrugging in confusionThe Atlantic; GettyJune 17, 2022About the author: Derek Th... See more

People are struggling, and the market is flooded with think pieces on whether inflation is real or the complexities of geo-politics. It’s interesting that the instinct is to try to make sense of every new thing that happens in the world (now that is a hampster wheel) rather than to understand the things that will never change.

Emotional reactivity d... See more

Say you are a pension fund that needs an 8% return to meet its liabilities without difficulty. And say that stocks have been inflated to the point that you can in all honesty expect only a 2% return over the long run from here given reasonable assumptions about valuation metrics returning to something sensible at some point. You might be tempted to

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