New Decade: new inflation challenges

Executive Summary

Symptoms of monetary inflation – both in goods and asset markets – are becoming more serious, as we enter the 2020s. There are no grounds for complacency, based on narratives spun by central bankers or by finance professionals. 


The central bankers tell us (via their giant propaganda machines) that they have everything under control, in the world of the 2 per cent inflation standard.  But this is an emperor’s new clothes tale.


Efficient marketeers, whose doctrines have helped spur a fantastic growth of passive investment via ETFs are in effect “sirens” of asset inflation.


Investors should continue to expect the worst about Europe’s financial and monetary outlook.  Negative interest rate policy is on its way out but other flaws are deepening as asset inflation strengthens.

Main Article


Diagnosing asset inflation at start of new decade          


Goods inflation emerging from camouflage of disinflation   


Absurdity of central banks reliance on econometrics        .


Fama’s doctrine of market efficiency – a big monetary problem         


Random walkers down Wall Street beware.    


Business cycle forecasts are futile but intuition possible


Investment challenges 2020 


Potential downward forces on global economy in 2020


In Europe, NIRP on way out, but euro unlikely to gain.  


Bottom Line:



We invite you to read the full version of this report by visiting our associate website:

And as always, we welcome your feedback and any questions.

Best regards,

Dr. Brendan Brown






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