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Alasdair Macleod: The most difficult thing in economics is to explain rising prices
By Alasdair Macleod
Thursday, May 12, 2022
It is apparent from media commentary that there is considerable misunderstanding over the causes behind rising prices and the consequences for interest rates. There are now signs that the official narrative over these issues is misleading at best.
Those who have protected their wealth by investing in financial assets no longer have the following breeze of falling interest rates. Financial bubbles are now bursting. Understanding the causes and therefore being able to assess the likely losses involved is becoming urgent for anyone committed to financial markets.
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This article explains inflation in its proper context, which is loss of purchasing power for state-issued currencies, so that current conditions are better understood. It dissects the delusions behind monetary policies over both the causes of rising consumer prices and interest rate management.
It concludes that we are beginning to experience the worst of two worlds simultaneously: while the financial bubble collapses, in anticipation of and the response to an accelerated debasement of fiat currencies, prices of everything from commodities to finished goods will soar as a crackup boom materialises. ...
... For the remainder of the analysis:
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