to the deflationary scenario add demographics to the cocktail.
after a period of rapidly rising inflation over the next 1-2 years (markets will do OK too) interest rate rises will eventually bite the massively overleveraged US consumer. Couple with the the underfunded baby boomers retirements we will see liquidation in assets as they raise cash to live on.
hey presto japan style deflation. it might well be worse in the US as the leverage is much higher and the saving rate is negative
just a thought
to the deflationary scenario add demographics to the cocktail....
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