The Three Forces About to Crush Inflation
Inflation just hit a three-year high, and the consensus has decided the era of cheap is over for good. Neil Woodford thinks that's exactly wrong — and that the inflation in the headlines is mostly one war showing up in the oil price.
Jon Adair and Neil Woodford take apart the Financial Times' "end of cheap" argument and make the case that three of the most powerful deflationary forces in modern history are building at the same time — and that a single oil shock is hiding all of them.
In this episode:
- The difference between a supply shock and structural inflation, and why almost everyone confuses the two
- China's $2 trillion trade surplus, and why it has no choice but to keep exporting deflation
- Why the energy market is heading for a glut, not a shortage
- How the collapsing cost of AI and the rise of humanoid robots pull prices down
- What it means for interest rates, bonds and equities if Neil is right — and what would prove him wrong
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