There is no easy escape from the global debt trap

Financial Times/Ruchir Sharma-Morgan Stanley/11-21-2021

cartoon unage if silver dollar bicycle racing ahead“No matter what happens to near-term inflation and growth, the world is too indebted for rates to rise much higher.”

USAGOLD note: A little down-to-earth practicality in an environment when speculation about what the Fed will do or won’t do is running off the rails. And it is coming from the chief global strategist for Morgan Stanley. Sharma wrote a while back that “it is difficult not to be a gold bug right now.” If Sharma is right, real rates will continue to trend negative and that’s a positive for the yellow metal.

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