What the Bulls Want to Ignore

The current geopolitical situation continues as is I expect we start to see an uptick in inflation towards the end of the year. We are going to have consumption coming down hard and that is going to impact services which has been the sticky part. Another thing we are not paying any attention to Maggie and I'm bewildered by this is we know the war is going to end at some stage. Let's hope it's sooner rather than later, the sooner the better. But when the war in Ukraine ends, that is also a very strong inflationary event because there's going to be such a scramble to rebuild a scramble for commodities. It is going to be inflationary.