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Ep. 339: Tim Price Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Myth of Deleveraging the System

We're living with this myth that there's been deleveraging the system. The reality is even more debt now than there was when Lehman went down. So which do we get? Option one is growth, option two is default andoption three is inflation. I think the long-term perspective is still clearly an inflationary one. If you've got already more debt than you can possibly really handle than a deflation basically is game over. It's pretty scary that in a fiat currency world, you can even have deflation, but yet we seem to be having it. And so if QE or reflationary monetary policy becomes any more endemic, then it'll be met by even more

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