Blain's Morning Porridge, by Bill Blain
Will the agreement on global tax ever become a reality? and the real threat of financial asset inflation!
"The stock market is a very expensive place to discover you know nothing…"
This morning: The G7 agreement is being hailed as a great step forward, but will it ever happen? Janet Yellen's call for higher rates is a clear sign the problem of financial asset inflation will finally be addressed – the question is how painful the treatment and taper tantrum will be? Not addressing financial asset inflation is a far bigger risk than the debt crisis many monetary traditionalists perceive has grown from government pandemic spending.
Welcome to another week of consequences, mayhem and fun on global markets…