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It’s official: “Transitory” inflation just got a BIG extension.
The IMF now says that global inflation will last for years.
According to the IMF’s latest prediction…
2023 inflation will come in at almost 7% worldwide.
And they say it won’t get much better next year at almost 6% worldwide.
That would make it 5 years and COUNTING of “transitory” inflation.
Keep in mind IMF forecasts are usually optimistic and that it has consistently underpredicted inflation.
For example, the IMF was predicting 5.2% global inflation in 2024…
And now they’re closer to 6%.
So things could get even worse.
The IMF is also now predicting slow growth worldwide…
And that it will continue for YEARS.
This slow growth is obviously tied to inflation; inflation caused by the gargantuan amount of money printed during the lockdowns.
Of course, the IMF doesn’t blame government spending nor the money printers for the massive inflation that we got.
And to control it, instead of suggesting a bit of control on government spending, they suggest MORE of it for things like:
- A renewed push on the green transition
- Plans for potentially TRILLIONS going to “increase resilience and improve food security”
Two things that would naturally raise inflation and slow economic growth.
In short…
We could be looking at YEARS of inflation.
Yours in Wealth,
Ian Wyatt