What were the early twenties like Granda?
When the pandemic hit, to avoid a depression, central banks flooded the world with money. There was so much of it, new asset classes were invented. Asset prices rocketed higher and higher. Those that benefited, believed they had suddenly become investment geniuses deserving of their new found wealth. Inflation crushed the less fortunate. Politicians argued.
And then what happened?
[To be continued]
“What were the early twenties like Granda?
When the pandemic hit, to avoid a depression, central banks flooded the world with money. There was so much of it, new asset classes were invented. Asset prices rocketed higher and higher. Those that benefited, believed they had suddenly become investment geniuses deserving of their new found wealth. Inflation crushed the less fortunate. Politicians argued.
And then what happened?
[To be continued]”
Well, then inflation became imbedded and with no sign of going away on it’s own, it then got a lot worse when Russia invaded Ukraine.
Seeing the terrible effects on society, central banks felt they had no choice but to increase interest rates to attempt to tame inflation. This caused asset prices to go back down again.
Some of the previously invented new asset classes melted away like snow in June. Investors and speculators stopped quacking and many started looking for jobs.
Inflation, higher borrowing costs and falling asset prices began to slow the economy.
And then what happened?
[To be continued]