| As the US and its Western allies realign supply chains to strengthen economic resiliency, the cost of certain goods and commodities will go up. I call this “resiliency-driven inflation.” I received a note from renowned economist Bill White about this, which prompted our interview. Bill is a former chairman of the Economic and Development Review Committee at the OECD. He has served at the Bank of Canada and Bank of England, and he is a long-time favorite speaker at the Mauldin Economics Strategic Investment Conference. Bill and I share concerns about an extended era of both higher inflation and higher interest rates. He sees us moving from an age of plenty, which he pegs as roughly 1990 to 2020, to an age of scarcity. In our interview, he discusses the five key macroeconomic factors driving this shift. These are big-picture issues that virtually no one in Washington is covering, and Bill proposes some solutions that are bound to be unpopular, including higher taxes. Nevertheless, these are critical conversations. As Bill puts it, “We're in a war to preserve our market-based, capitalist, democratic system in an environment that is going to be very, very difficult to navigate.” Get more analysis from Bill White here: https://williamwhite.ca Follow Bill White on LinkedIn here: https://www.linkedin.com/in/william-white-724b3455/ Follow Ed D’Agostino on LinkedIn: https://www.linkedin.com/in/ed-d-agostino-415475296/ Time stamps: 00:00 – Introduction 01:45 – We’re shortsighted on inflation 06:00 – Reversal of globalization 11:33 – Addressing the worker shortage 12:32 – Could climate change make Miami unlivable? 14:07 – The “guns and butter” problem 17:00 – “Start building the silos” 18:03 – Paying for the war 19:04 – The fundamental macro problem 23:52 – The debt spiral 29:21 – If you want peace… 37:03 – The risk of revolution |
You Might Also Like
Oil Demand SURGES Despite Energy Transition Hype | Josh Young
2024-09-13
Sign up for my free newsletter here: https://www.mauldineconomics.com/go/JM563H/YTB.
The prevailing narrative around oil is that a global supply glut and weakening demand from China will continue to keep oil prices down.
The reality is that oil isn’t going away anytime soon.
Josh Young, the founder and CIO at energy investment firm Bison Interests takes us on a world tour of oil-producing nations, explaining why there is “a lot less spare capacity than people think.” That includes capacity from Guyana, which some have called “the next Saudi Arabia.” He also believes the China demand story is overstated.
You will also hear about which OPEC nations might be cheating on their quotas, the nuances in the Exxon v. Chevron dispute, the future of the Strategic Petroleum Reserve… and what
How China Dominates the Global Export Business | Louis Gave
2024-08-30
Sign up for my free newsletter here: https://www.mauldineconomics.com/go/JM563G/YTB
Decoupling the US economy from China’s is essential to strengthening our long-term economic resiliency and national security. Meanwhile, China is doing the same thing—decoupling its economy from ours. Yet China’s export business is booming.
Gavekal CEO and renowned China expert Louis Gave says that China now exports more to other emerging markets than it does to the US and western Europe. Here’s Louis:
“China’s trade is absolutely booming. The investments that China made 10 years ago in things like the One Belt One Road, the Silk Road Fund, the Asian Infrastructure Investment Bank, all the things that we laughed at and said, ‘Oh, you want to have trade with Kazakhstan? Who cares? Sure, have it. It’s
Ex-Wall Street Trader: The $8 Trillion Bubble Ready to Burst | Jared Dillian
2024-08-23
That old private equity model is mostly extinct. In its place, former Wall Street trader Jared Dillian sees an $8 trillion bubble, built on massive layers of debt across 17,000 private equity firms.
Jared says this bubble poses a systemic threat to the entire financial system, with the potential to implode in ways similar to what we experienced during the 2008 financial crisis. He also explains the opportunities it presents for investors who get ahead of it.
Jared just released a comprehensive white paper on the private equity bubble—and what he’s calling the “Big Short 2.0.” Access your FREE copy by clicking the link below.
Find Jared Dillian’s free exposé on private equity here:
https://www.jareddillianmoney.com/go/JD059AF031/MEC
Follow Jared Dillian on X (Twitter):
Revolt of the Public: How Information Overload Reshapes Politics | Martin Gurri
2024-07-26
Something phenomenal happened in 2001. Humanity generated more information in a single year than it had in all of human history, combined, up to that point. Since then, the amount of information available to us has gone parabolic, as documented by former CIA media analyst Martin Gurri in his fascinating book, The Revolt of the Public.
Gurri explains the effects of this information “tsunami,” which underpinned events from the Arab Spring to Javier Milei’s ascendency in Argentina to the abrupt turnaround of China’s Zero-COVID policies.
The information tsunami has led to a breakdown in the public’s trust in institutions and the elites in charge. Many of us have sensed this happening for years now, but I believe Gurri has done the best job of articulating the nuances of this phenomenon.
Tags: Featured
21 pings
Skip to comment form ↓