Rob Arnott & Campbell Harvey on Why They Believe Inflation Hasn’t Peaked | #438
The Meb Faber Show - Better Investing
What Does the Oplong End of the Yield Curve Tell Me?
There's a sweet spot in the middle, somewhere in the neighborhood of one % real rates, where the economy doesn't need to have a recession because the money isn't spent recklessly. The whole purpose of interest rates is to attach a price for time. We've had a dozen years of negative real rates and of nominal rates near or at the zero bound. And if you pay people to borrow, top rated companies and governments will wind up apportioning money to whatever stupid project they have in mind. It would be way better to rea at the capital and the labor to more productive opportunities. Yet that has not happened, and it's been a long time, and we're paying
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