Another serious commentator sees inflation clouds on the horizon

Vincent Deulard is a very interesting commentator. Without the inimitable Kevin Muir & Patrick Ceresna, I would never have encountered this witty and thoughtful Frenchman.

Deluard believes that it’s different this time. That the demographic challenges facing the Boomers mean that their political dominance is coming to an end, and that inflation—which has been suppressed by Boomer policies—will be allowed to redisribute real resources from the old to the young (or, at least, the less old).

It’s a very clever thesis, but of course people have been predicting runaway inflation since the time of FDR, and it hasn’t really happened yet. Deluard makes a very persuasive argument, but I am aware that I need to be eternally vigilant to avoid confirmation bias.

The Market Huddle has a terrible website, but you should be able to find the podcast via your favourite podcast app or YouTube. You might be able to reach it here.

I was a huge fan of The Macro Tourist newsletter, but I can’t justify another paid-for subscription, especially as Kevin is so reliably wrong about the markets. There is a huge amount of really good insight offered for free. Obviously, some of these guys are talking their own book, but that means that they have skin in the game! Take a look at my very own twitter list of ‘top commentators’ but read everything cum grano salis.