Dr Sam Wylie

There'll be the inflation growth in profits because the costs can be passed on.

Next day, everyone's bearish.

Oh no, we're heading into a recession.

and we won't be able to pass the costs on, so it's all going to go down.

So it's very volatile because of that switching backwards and forwards between being bullish and being bearish about it.

I can give you my view here.

So I should say that we are about to step away from the world of economics and science and into the murky world of Sam's opinion.

And we need to be clear on that.

So here in Sam's opinion, I'm concerned about it.

So I wouldn't be inclined to increase investments in shares, especially in the U.S.,

So I think that the US shares are more vulnerable to increases in inflation than Australian shares.

They're starting from a much higher point, from a much more pumped up value or overvaluation of US shares.

And the Australian market's not.

And the US market's more vulnerable to increases in inflation.

There's a lot more quantitative easing that has to be unwound in the US than has to be unwound in Australia.

Remember, QE only started in Australia in COVID-19, and it started many years before that in the US.

So for a variety of reasons, I'm much more bullish about Australian shares than about US shares.

And it does depend upon how inflation plays out.

Now, let me just say one last thing.

And I'll just say it very quickly.