Strategists say get ready for ‘peak decade’
Amid the Alpine peaks of the Swiss resort of Davos in the week ahead, politicians, investors and executives will be busy debating whether we are witnessing peaks in key drivers of the world economy. From oil demand, car production and the proportion of young people as a share of the population, to less-measurable themes like globalization, inequality and central banking power, there’s an argument each will ebb in the 2020s.
Strategists at Bank of America Corp. are already telling clients to brace for a “ground-breaking ‘peak decade'” that will disrupt business and investing.
William Gale of the Brookings Institution notes the 400 richest Americans owned 3.26 percent of wealth in 2018, up from 0.93 percent in 1982 .
Big Oil executives believe that peak oil demand is increasingly likely in the late 2030s.
PEAK CENTRAL BANKS?
Central banks may have rescued the world from depression in the wake of the financial crisis, but their ability to turnaround their economies from here is limited after what Bank of America estimates is more than 700 interest rate cuts and around $12 trillion in quantitative easing since 2009 .
Article source: https://www.dailystar.com.lb//Business/International/2020/Jan-20/499534-strategists-say-get-ready-for-peak-decade.ashx