Underfunded Pensions, Social Security, inflation, and a possible recession are culminating into a deadly storm for retirees, just as the last Baby Boomers are set to leave the workforce.
I hoped for better behavior for these last couple days; but we don't have it and that suggests traders and the bulk of money managers remained concerned about the road ahead in Q3.
For now, it seems meeting demand growth for traditional energy will drive prices higher. There’s little sign of demand destruction at current levels, and China is still enduring partial lockdowns.
A rise in velocity would be a really bad thing because the money supply is very unlikely to decline very far, especially while bank credit growth continues to grow.
Cheaper payments might be nice, but industrial firms need to work with banks. Furthermore, the payments need to be in the currency in which the firm wants to operate.
I hoped for better behavior for these last couple days; but we don't have it and that suggests traders and the bulk of money managers remained concerned about the road ahead in Q3.