Bill Ackman outlines 2005–2020 deflation era and projects 2025–2045 AI-driven deflation with long period of ZIRP
Bill Ackman is right… 2005-2020, globalisation and Chinese urbanisation caused 15 years of global deflation and a long era of ZIRP. 2025-2045, AI will likely cause a long period of deflation (big productivity gains) and likely a long era of ZIRP. The West mostly failed to make use of the …