Inflation Seen as ETF Flows Converge With U.S. Investor Choices

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At www.bloomberg.com

EFFECT OF 'MODEST' 5% INFLATION For the past fifty years, all the published charts illustrating the decline of the dollar from such-and-such a date to the 'present' show the following type of curve. These, of course, are averages. A few people in the middle class of the bureaucracy will have managed to place some of their dollars into tangible assets or income-producing securities—what few remain—where they are somewhat protected from the effects of inflation. For the vast majority, however, inflation hedges constitute but a tiny fraction of all they have earned over a lifetime. And so we find that, in The New World Order, inflation has been institutionalized at a 'modest' level of five per cent. Once in every five or six generations—as prices climb higher and higher—a new monetary unit can be issued to replace the old in order to eliminate some of the zeros.

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At www.bloomberg.com


 

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