QE can’t make baby boomers spend more

The Fed cannot create inflation as long as the postwar generation is paying off mortgages and emerging markets are struggling under huge external debts, says CLSA’s Russell Napier.
Russell Napier, CLSA
Russell Napier, CLSA

There is a school of thought that reckons demographics have a much bigger influence on markets than most people realise — and that looking at the world in this way can lead to some useful insights for investors.

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