Hedgeye Podcasts Hedgeye Investing Summit Fall 2024 | Murray Stahl, Chairman, CEO, CIO, Co-Founder, Horizon Kinetics
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Oct 23, 2024 In this engaging discussion, Murray Stahl, a seasoned expert in inflation and hard asset investing, delves into current inflation trends and their historical contexts, linking them to global economic shifts. He critiques the disconnect between elites and everyday Americans regarding inflation issues and explores strategic investments in resources like gold and natural gas. Moreover, he discusses the intricate relationship between money supply and inflation, highlighting the potential of cryptocurrencies, especially Bitcoin, as a hedge against rising prices.
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End of Disinflation
- The end of disinflationary forces, like the rise of China, signals a new inflationary era.
- This shift is driven by global deficits and changing geopolitical dynamics.
Austerity and Leverage
- Austerity measures are unlikely to curb inflation due to high leverage in the current economy.
- The scale of bank balance sheets and private equity makes drastic policy changes risky.
Inflation Measurement
- Current inflation measurements don't accurately reflect the cost of living for many, especially those with lower incomes.
- Methodologies like hedonic adjustments and substitution effects mask true price increases.