Secular deflation in the financing and operation of businesses has been one of the largest defining economic trends of the past half century.
But it has come to an end, predicts Grant Williams, publisher of the Things That Make You Go Hmmm… newsletter and co-founder of Real Vision.
The events of 2020 have dramatically accelerated a reversal from the past decades of deflation into a new future of secular inflation. And that means the rules of investing have just changed, as the playbooks for those two environments are extremely different.