Josh here – my friend Peter Boockvar says inflation is the next shock markets will have to deal with and the price of gold is headed to $3,000 per ounce. Stagflation – that rare occurrence where prices go up but many people are out of work while the economy stagnates – was last seen during the 1970’s. Peter believes a combination of current interest rate policies, a large group of unemployed workers and rising asset prices could contribute to a new stagflationary environment later this year.
Peter is the editor of BoockReport.com and is the CIO of Bleakley Advisory. I read Peter’s take on the macroeconomic data every morning to have a better understanding of what’s happening.
You can check out his stuff here.