Corporate Strategy Applications
The preceding chapters make the case that the Great Moderation of declining inflation and interest rates is over and so is the 25-year-long bull market in most asset prices. There will probably be temporary upward corrections, but corporations no longer have macroeconomic tailwinds at their backs. Investors will, therefore, need to diversify their portfolios much more, including reducing their reliance on the dollar, or any developed economy’s paper currency. The immutable logic of demographics and debt leave little room for doubt.
This sea change in the economic environment has implications far beyond asset markets and individual retirement planning. You can plan for the day when you will no longer ...
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