Folks, we talked a little yesterday about Growthflation—this once-in-a-lifetime global growth story that’s coupled with inflationary pressure on the demand side—and I wanted to pick up on that more today. I believe that if we tune out the day-to-day noise—Greece, the Fed press conference, the pullback in oil this morning—and take a macro view of the world, this is the scenario that will drive the markets higher for years to come. Let’s look at some more evidence, shall we?
Growth. Here in the U.S., we tend to be a bit myopic. We think the world ends at our shores. But for proof of a global growth story, let’s look at the World Bank’s GDP numbers in China and Brazil over the last decade (2009 was the most recent data available).