Biflation: inflation in the things you need, deflation in the things you don’t

I am going to be speaking on a panel on "Investing in Inflation" tomorrow. And I thought I would put forward some ideas here regarding what I intend to say. The key word describing where we are is biflation, meaning inflation in some things but not in others. I tend to think about in terms of inflation in the things you need on a daily basis like food, gas, education, and healthcare but no inflation or even deflation in the things you don't need every day like cars, refrigerators, iPhones, computers. Here's why.
We are living in a global world now. Not only is it global but it is an interconnected world too. That means it is a lot easier to arbitrage your local infrastructure. I think of the Internet this way. I can buy a lot of things from some guy in Ontario, Canada that I used to have t...


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