dirigiste=http://en.wikipedia.org/wiki/Dirigisme. Sounds a lot like fascism/socialism to me. No jack boots visible, but just you try not doing exactly what you are told to do. So, really, what is the difference...? Just no jackboots...FBI raids and specially targeted 'audits'? -Fiz
http://themarket.ch/interview/russell-napier-the-world-will-experience-a-capex-boom-ld.7606
Russell Napier has never been one of the eternal inflation warners. On the contrary: The market strategist and historian, who experienced the Asian Financial Crisis 25 years ago at first hand at the brokerage house CLSA in Hong Kong, wrote for years about the deflationary power of the globalised world economy.
«Many investors today still pretend that we’re in the system that we had from 1980 to 2020. We’re not. We’re going through fundamental, lasting changes on many levels»: Russell Napier.
«Many investors today still pretend that we’re in the system that we had from 1980 to 2020. We’re not. We’re going through fundamental, lasting changes on many levels»: Russell Napier.
Two years ago, the tide turned and Napier warned of a vicious return of inflation – and he hit the mark. In an in-depth conversation with The Market NZZ, which was lightly edited for clarity, he explains why most developed economies are undergoing a fundamental shift and why the system most investors have become accustomed to over the past 40 years is no longer valid.
According to Napier, financial repression will be the leitmotif for the next 15 to 20 years. But this environment will also bring opportunities for investors. «We will see a boom in capital investment and a reindustrialisation of Western economies,» says Napier. Many people will like it at first, before years of badly misallocated capital will lead to stagflation.
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