Demand for safe havens

My friend Miguel sent me some feedback for my post on productivity stagnation. I suggested that if we continue to see productivity stagnation in some sectors, demand for safe havens might rise: you’d expect the price of services to continue to rise independent of inflation. This means the purchasing power of the average household goes down. Combine that with a low savings rates and more money printing and you might see more demand for safe havens (e.g. gold, bitcoin).

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