Wharton professor warns of inflation, says many interest rate increases and says that Bitcoin has replaced gold for millennials-economy
Wharton professor warns of inflation, says many interest rate increases and says that Bitcoin has replaced gold for millennials-economy
A financial professor at the Wharton School of the University of Pennsylvania has often warned against inflation and interest rate increases by the FED when the market expected. He also said that Bitcoin had become the new gold for the millennials.
Financial professor for Bitcoin and inflation
The financial professor of Wharton, Jeremy Siegel, announced his view for various markets in an interview with CNBC on Friday, which in his opinion should have investors this year.
Siegel is Russell E. Palmer Professor Emeritus of Finance at the Wharton School of the University of Pennsylvania. His research focuses on demography, financial markets, long -term property returns and macroeconomics.
He was asked about gold and raw materials as future investments. He found that gold was "disappointing", he emphasized that "it is a fact that the young generation Bitcoin sees as a replacement" for gold. The professor said:
Let's be honest, I think Bitcoin has replaced gold in the minds of many younger investors ... Digital coins are the new gold for the millennials.
"Old people remember the 1970s," he continued. "Gold climbed up in this inflation period. This time it is not for it," he noted.
Professor Siegel is also of the opinion that investors should have a commitment to raw materials, which in his opinion could be done by investing in emerging markets that are sensitive to raw materials.
The financial professor continued to talk about inflation, which he had said about several concerns. "I've been saying that for a long time. I've been warning of inflation for a year and a half," he emphasized.
"The Fed and the tax authorities have exaggerated so far, especially the Fed in relation to liquidity," he described. "You are so far behind the curve that we have a lot of inflation that is embedded." The Professor Castle:
The Fed will have to make its raising much more often than the market expected.
What do you think of the inflation warning of the financial professor and his comment on Bitcoin and Gold? Let us know in the comment area below.
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