Thanks Shane. Very topical. And painful. I'm still in the transitory camp, at least in the longer term going out two or three years. Then sensible people could rightly accuse Team Transitory of moving the goalposts of what the word transitory means. I'm a fan of Keynes. He said: "In the long run, we are all dead...'" :)
I still think long term demographic (labour supply, young vs. older) and energy cost trends are going to be inflationary for quite a while... and these cost pressures will increase social discord :-(
How strongly are you holding to your contrarian view that inflation (in NZ and overseas) is transitory? And if so, when do you see peak inflation?
Thanks Shane. Very topical. And painful. I'm still in the transitory camp, at least in the longer term going out two or three years. Then sensible people could rightly accuse Team Transitory of moving the goalposts of what the word transitory means. I'm a fan of Keynes. He said: "In the long run, we are all dead...'" :)
True - You can’t avoid the 2nd Law of Thermodynamics (well “globally” anyway)
I still think long term demographic (labour supply, young vs. older) and energy cost trends are going to be inflationary for quite a while... and these cost pressures will increase social discord :-(