Hedgeye Podcasts The Best of Hedgeye: David Rosenberg → Inflation Tsunami: Investing During A Rising Inflationary Tide
16 snips
Feb 20, 2025 
David Rosenberg, Chief Economist & Strategist at Gluskin Sheff, shares his keen insights on the rising tide of inflation. He delves into historical perspectives on inflation, navigating pandemic-induced challenges, and the impact of fiscal policies on consumer behavior. The conversation covers the intricate relationship between housing costs and inflation dynamics, while warning about potential stagflation. Rosenberg emphasizes the need for strategic investment amidst economic fluctuations, delivering valuable advice for investors as they decode complex market signals.
AI Snips
Chapters
Books
Transcript
Episode notes
Transitory Inflation
- Current inflation is a deviation from a disinflationary trend, similar to the one after the 2008 recession.
- This deviation is driven by pandemic-related distortions, like supply chain disruptions and pent-up demand.
Disinflationary Forces
- Three disinflationary forces (3Ds) define the long-term trend: debt, disruptive technology, and demographics.
- These forces, especially aging demographics and the increasing share of the 65+ population, suppress spending and inflation.
Supply and Demand Dynamics
- The initial pandemic impact reduced demand relative to supply, leading to deflation.
- Reopening and stimulus created the opposite effect, but supply will eventually catch up, and demand will fade as stimulus ends.