Nobody saw inflation coming in the 1960s, but it could be back
Repost from 3-18-2021
“Everything old is new again, and that includes investor complacency when it comes to inflation. Ian Shepherdson, chief U.S. economist for the forecasting firm Pantheon, thinks that complacency is due to the anemic pace of price increases in recent years. The same thing happened in the early 1960s – just before the double-digit inflation that spilled into the 1970s, he wrote in a report Monday.”
USAGOLD note: Inflation snuck up on the country in the 1960s, then exploded in the 1970s. Gold, after two U.S. dollar devaluations and a decade of runaway inflation, went from $35 to $650 using the London Fix as a reference.
Sources: St. Louis Federal Reserve, ICE Benchmark Administration