Michael Every
@TheMichaelEvery
London, Bratislava, Moscow, Sydney, Bangkok, Hong Kong, Haifa, Singapore,… Luton.
“I wish it need not have happened in my time,” said Frodo.
参加 May 2014
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We have seen a structural power shift, yes.
I fully agree that the only way to lower inflation now is to lower energy (and other commodity) prices … which demands winning physical control of them, and often the hard way.
The recent joke is that rates strategists have had to become oil strategists… and I add, ‘who have to become military strategists.’
Central banks are not so central anymore…
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If Warsh is going to demonstrate a willingness to raise rates into an oil supply shock, do not be surprised when Iran makes oil-related infrastructure go *boom* in the lead-up to every Fed meeting from here on out.
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