According to John Rubino we are in uncharted territory so far as the stock markets’ valuations are concerned anyway. We’ve seen financial assets and real estate go way, way up. Now we are starting to see prices going up in energy and perhaps the rest of the commodity sector. This will invariably lead to higher consumer prices. And perhaps most importantly, interest rates are going up. We thought the yield curve would flatten, but now it seems to be steepening. Mortgage rates are back over 4%, first time in years. Rising rates mean more bank lending. Is this time going to follow the standard script?
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