Vladimir Lenin: “The best way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation”.
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Central Banks Will Pivot Quickly. Stagflation Coming: Lacalle
He sees a mild economic slowdown – more-so than a severe recession – due to his belief that central banks will pivot quickly if economic activity slows sharply. For that reason, he sees inflation remaining above 2% for a longer time as growth slows but doesn’t fully dip into recession, i.e. stagflation.
h/t Qplus17