“This Is All about Stagflation… The US Is Walking into The Early Stages of The Fourth Turning”
The comments below are an edited and abridged synopsis of an article by Larry McDonald
“We believe the US is walking into the early stages of the Fourth Turning, a subject entertained below. In this note we break down the ideal 2020-2030 portfolio and why it is so different from the 2010-2020 vintage. Above all, by now it should be clear to a five year old: Global central banks are working together in a dollar containment regime. With conviction, we laid out this thesis a year ago (April 2020) in our ‘Lessons from Omaha,’ and it became the foundation under our overweight positioning in commodities, global large cap value, and emerging markets.”
Circular concept
“The good news is, the commodity cycle is still in the early innings.”