
Bloomberg Businessweek
Apple Producers Crisscrossing the Developing World
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Apple's iPhone supply chain is being affected by US-China tensions.
- Bill Smeed believes the current inflation episode could be more damaging than previous episodes due to the large influx of money and a prolonged topping process.
Deep dives
Inflation concerns driving market uncertainties
Investors are curious about Bill Smeed's conviction that inflation is not transitory and the US is entering an inflationary era, as reflected by the 2% spread between 30-year Treasury Inflation-Protected Securities (TIPS) and regular Treasuries. Smeed points out that this time, the significant injection of money into the economy will likely result in inflation, as opposed to 2012 when similar concerns arose but did not materialize. He highlights the amount of stimulus in the form of government aid packages and the increased demand for goods, especially in the housing market, as contributors to inflationary pressures. Smeed believes that the current inflation episode has the potential to be more damaging than previous episodes due to the large influx of money and a prolonged topping process.