09/12/2022
Labor market shifts as baby boomers retire; disruption caused by extreme weather; the cost of climate action; more volatile geopolitics and an uncertain future for world trade: these are the larger trends some policy-makers believe could make for a durably more expensive world.
According to Carstens, much of the world economy from the 1990s enjoyed three decades of solid, low-inflation growth due to benign tailwinds including stable geopolitics, technological advances, a spurt in globalization and an ample pool of labor.
But instead of seizing the moment to make investments and reforms for the future, governments took on debt to chase yet more growth. And while globalization made a few people very rich, it was leaving millions more feeling worse-off.
The 2008/09 financial crisis, pandemic and Ukraine war have revealed how fragile this growth fueled by cheap debt and just-in-time supply chains was. Now, the greater fear is that those tailwinds keeping it all up in the air are turning to headwinds.
It’s difficult to know how to navigate this market without the proper help. If you have questions on how best to handle your finances or where is the best place to be investing please reach out to Paragon Private Wealth Group and we’ll be happy to work with you to find a sound strategy for your finances.