LinkedIn/Ray Dalio/2-15-2022
“History has repeatedly shown that people tend to have a strong bias to believe that the future will look like a modestly modified version of the past even when the evidence and common sense point toward big changes. I believe that’s what’s going on and that we are in the part of the cycle when most people’s psychology and actions are shifting from deeply imbued disinflationary ones to inflationary ones”
USAGOLD note: Ray Dalio weighs in convincingly on the entrenched side of the great inflation debate taking to task those who believe it to be transitory. “[N]ow most everyone,” he says, “is surprised that there is a lot of inflation. What is wrong with these people’s thinking? Where is the understanding of history and the common sense about the quantity of money and credit and the amount of inflation?” And to stretch the argument a bit, the connection between quantity of money and the price of gold?
Source: TradingEconomics.com
