In the 1960s and 70s global temperatures temporarily fell. It's been speculated that this was caused by increased aerosol emissions which deflected sunlight, cooling the planet.pic.twitter.com/B0JLXAi0u4
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The advent of China into global markets and falling birth rates are analogous, but for inflation. They caused a temporary lull in what would otherwise be runaway inflation caused by fiat currency. After we get through COVID, this is one of the big worries of my lifetime.
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It will be interesting to see what happens. With all time high financial liabilities relative to income (about 3x as high in the early 1980s), there isn't room for higher interest rates without crushing the economy.
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Asset bubbles will go parabolic until inequity achieves terminal velocity. Not sure what happens after. Tech is the X factor; compressing and magnifying the timeline. Fun times!
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