While the Fed waffles from “Inflation is transitory” to “No, it’s permanent” some analysts see further out and don’t waffle. Cathy Wood says that technology is deflationary. Dave Rosenberg cites three deflationary forces,
In Dave’s view the disinflationary forces we were looking at pre-COVID are still alive and well. He calls them the “Three D’s”—debt, demographics, and disruptive technology.
From John Mauldin’s latest Thought from the Frontline.
https://www.mauldineconomics.com/frontlinethoughts/soft-now-…
Looking at it long term, extractive economies are inflationary because they combine increasing wealth (buying power) with the law of Decreasing Returns. This is what inflationists have on the brain but futurists see the law of Increasing Returns matched to increasing wealth (buying power) which is not inflationary. BrainWare is infinite! Almost.
The Captain