Good article. Given that very long term historical inflation sits at just over 1%, the modern period since the 1970's is an aberration in inflationary terms. Our central banks are operating as if that aberration is the historical norm so their interest rate settings are just plain wrong. That leads to lower than normal interest rates and much of the investment pricing/returns flow-on effects.
Inflation targetting should be recalibrated to a much lower range, say 0.75% - 1.75% which would allow normalisation of interest rates, risk and investment returns.
Its difficult though because they have the financial elite hooked on the QE drug.
