Albert Edwards has peered into the future, and he sees the whites of inflation’s eyes. How can the head of the Societe Generale’s global strategy “team” tell? The very individualist Edwards notices that Americans are set to take more holidays than at any point in history. He then correlates union / worker power with inflation as he sees the overheated future ahead as wages rise. In other words, Janet Yellen is walking into the sunset with the hero’s cape on just as a constrained Fed toolbox in 2018 might be tested as never before.
[munger]
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