By John Mauldin May 24, 2019
The Complex Debt and Currency Dance
“Too High and Getting Wider”
They Shall Not Grow Old
Modern technology was supposed to make travel less necessary. We can meet by phone, video, and now in virtual reality. But we’re still traveling more than ever. I certainly am.
The reason is simple: Technology can’t yet replace face-to-face conversation, and especially group conversations. It is genetically hardwired in our species. We spend more time on the phone and Skype than ever but technology also makes information more complex and nuanced. Conveying it often requires a personal presence, so we fly around and talk in person.
I thought of that last week at the Strategic Investment Conference. I’ve been writing about “Japanification” of the developed world economy, explaining what I mean by that as best I can in these letters. But in talking to conference attendees, I found that I have not effectively communicated some of the nuances.
To be clear, I don’t want Japanification, nor do I think it will deliver the desired results. I believe that in the next recession…...............To Read More....