A lot of provocative ideas, information, and links to other materials about the economy, foreign affairs, and Covid medicine. From Austrian Peter at theburningplatform.com:
My colleague at BOOM Finance and Economics posts a weekly editorial Hat Tip: Gerry: http://boomfinanceandeconomics.com/#/
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THIS WEEK’S EDITORIAL
THE BOOM THESIS ON INFLATION
BOOM’s primary thesis on inflation — Persistent and troublesome high CPI inflation is not coming back in the foreseeable future in the advanced economies because there are just too many dis-inflationary forces in abundance. These include cheap goods from China, Vietnam, India, Cambodia, Africa plus cheap energy, cheap labor, cheap robotics, increased efficiency from computerization of just-in-time supply chains, cheap commodities and aging demographics (more old people than young people).
Also, in the advanced economies, there is no wages growth pressure occurring and those economies are also overwhelmingly services based. Advanced economies increasingly do not manufacture goods, they import them from emerging economies and from China. Many of the advanced economies are based 70 – 80 % upon the provision of services.
So BOOM is in the “higher CPI inflation is transitory” camp which is what the Federal Reserve in Washington DC is saying.