I am worried. But it is not the volatile market that is bothering me. That is something we need to accept when we invest in shares. I am not too worried about the Russian-Ukraine war, either. The world is full of nutcases. And we have to accept that nutty people are liable to do nutty things.
I am not too concerned about a possible recession. It is a sign that an economy is functioning normally. After a prolonged period of economic growth, it is perfectly understandable why we need to pause for breath.
I am, however, worried about the impact that all those things could have on the long-term savings of households. For nearly three decades many economies around the world have enjoyed relatively low rates of inflation. In the US, it has been between 0% and 5%. In the Eurozone, it has also been between 0% and 5%.
But recently, the rate of inflation...