The Actual Motive Inflation Is Short-term – Tim Ghriskey on “Technological Deflation”
Headline CPI inflation rose to 6.2% in October, its highest level since 1990. However, prices are unlikely to stay high forever as technological innovations create a more cost-effective economy, said Tim Ghriskey, senior portfolio strategist at Ingalls and Snyder.
“We are in this technological revolution. I think it’s bigger than the industrial revolution from over a century ago. The innovation continues and we will continue to see costs rise for businesses and businesses run more efficiently. “Ghriskey said David Lin, host of Kitco News,” I think the technological deflation factor is huge and will continue. ”
On gold, Ghriskey calls it the “anti-investment”.
“It’s a fear investment. When you think everything is going to fall apart when you invest money in gold. There are people who will keep it forever. I find it hard to believe that this is really a good thing because if we’re in Armageddon and you’re taking your piece of gold to a farm and I’d love to give that to you for a bunch of your harvest, I’m not sure whether the farmers would make this trade, ”he said.
For more information on which stocks to consider strategically investing in a deflationary global economy, see the video above.
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