The peak from the COVID crisis is behind us, but there's a new secular trend here. Which is it, and how should we think about inflation going forward? My answer is actually neither of those answers. We still have a very strong disinflationary backdrop. What drives it? Well, financialization and addiction to asset prices and leverage. And technology, as it progresses, it is disin deflationary. But we also have elements of potentially inflationary spikes. Black swans can come from marginal politics that are going to get more complex. The other area could be health scale. I don't believe de-globalization is actually inflationary at all. As soon as we

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode