On the one hand, equity markets benefit from higher-than-expected inflation via nominal GDP, but on the other, they also suffer from higher-than-expected costs. This combination of features is often what leads equities to look like a real growth asset, i.e., one that benefits from real growth conditions rather than nominal ones. While this serves a

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Looking ahead, the wealth divide will likely accelerate and today’s social tensions must inevitably rise. But, much like in 1920s Germany when hyper-inflation savaged the post-WW1 economy, there was also a widening split between young (stock speculators) and old (bond investors). In today’s monetary inflation World, many young (crypto investors) ar... See more