This article was co-produced with Williams Equity Research.
The Hidden Tax
“Inflation is taxation without legislation.” – Milton Friedman
Combating and preparing for inflation is a core element of retirement strategy. Interest rates seem cemented near 0%, not just in the U.S. but most of the developed world.
Not long ago, Petrobras (PBR) was able to sell 100-year bonds with a 6.85% yield at face value. Moreover, that was despite being embroiled in multiple crises as global investors scrambled for yield.
That was in part due to the European Central Bank establishing 0%