Hedge fund manager Ackman expects even higher long term US rates

<p> Bill Ackman is the founder and CEO of Pershing Square Capital Management.</p><p>He's posted a long tweet:</p><p>Some points he makes:</p><ul><li>The world is a structurally different place than it was. </li><li>The peace dividend is no more. </li><li>The long-term deflationary effects of outsourcing production to China are no more. </li><li>Workers and unions’ bargaining power continues to rise. Strikes abound, with more likely to come as successful walkouts achieve substantial wage gains. </li><li>

Energy prices are rising rapidly. Not refilling the SPR was a misguided and dangerous mistake. Our strategic assets should never be used to achieve short-term political objectives. Now we must refill the SPR while OPEC and Russia cut production. </li><li>

The green energy transition is and will remain incalculably expensive. </li><li>And higher gas prices will raise inflationary expectations.</li></ul><p>His list of woes goes on and on. To be fair he's been on the right side so far. </p><p>He finishes with a cheeky wink:</p><ul><li>But I could be wrong. AI might save us.</li></ul><p>Yeah, AI is of huge benefit to mankind 😉 </p>

This article was written by Eamonn Sheridan at www.forexlive.com.