Inflation- a thread. I think a lot of people look at inflation but dont realise that many of the structural forces over the past decade have changed. @BvddyCorleone has already today done a phenomenal thread on energy and why long term supply discipline in place will result in
Higher energy prices. The lack of commodity investments in scores of other industries- be it Uranium, Ags, Copper etc all indicate that we will have rising commodity price inflation for years to come. But this is not all there are other less understood forces at play.
@DiMartinoBooth weekly piece this wk did a great job showing how exceptionally generous fiscal support for a mother of 2 kids (one over 7,one under 7) leads to a real unwillingness to enter the labor mkt 
Now yes there will be firms trying to automate etc, but the marginal worker will need to be bid up to want to leave his or her couch to work. This is something people are really not focused on (but i get it from speaking to start ups where they all tell me they are struggling
Getting workers. In addition, JIT has become JIC (just in case) and you are going to see less investment in share buybacks and more in increased levels of working capital & on shoring. THESE are not Deflationary but inflationary. So in a retweet earlier today i had mentioned the
Focus on loose fiscal (dems are going to not allow the OBAMA mistake of loosing one of the chambers with the midterms and will thus not allow next year to be a down year on growth with the wearing out of the stimulus impact- i expect more fiscal wasteful packages. Coupled with
The fed focused on labor mkt hysteresis (ie keeping full employment even at the expense of rising inflation), and you have all the ingredients for a regime shift ending the 12 year deflationary boom that has so well rewarded growth investors. I expect by the end of this cycle,
Commodity/spx which is at all time lows to be at the top of the sine curve & growth stocks to be basically the way $BTU is considered now- something to be avoided at all costs.
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