Gary Stevenson

What we then had was severe economic weakness combined with aggressively rising interest rates.

So surely now asset prices are going to fall.

But what actually happened after COVID again, asset prices rose really quickly.

So this is like even crazier.

And I think really that's

Raising some questions about the correctness of the previous narrative.

Like if the idea was the reason that asset prices did so well after the economic crisis of 2008 and the economic malaise of the 2010s was because interest rates fell so much.

then that does not explain at all why asset prices did so well after COVID when the economy was weak and living standards were weak and also as interest rates rose significantly.

And we're seeing the same thing now, basically, in the Iran war, which is the Iran war.

Obviously, we're in the midst of it here and now.

I think it is pretty certain it's going to be bad for the economy, bad for living standards.

Interest rates have risen, not enormously, but like pretty significantly since the beginning of the war because inflation is going to rise and central banks are going to rise base rates.

And yet once again, we are seeing the repetition of this like COVID dynamic of interest rates are going up, the economy is going down, living standards are falling, and yet asset prices are not falling and maybe even increasing.

What's causing that?

So I am going to put forward an argument as to what has been really causing the aggressive increases in asset prices throughout the world in the last

18 years, but especially during the last five or six years since COVID.

And I will, to sort of support my argument, add that I have consistently correctly predicted that these asset prices would rise.

So if you can watch the first video on this channel that I did in 2020, at the very beginning of COVID, predicting it would cause a massive increase in asset prices.

I did a video about two years ago, two and a half years ago, predicting that we would see

further aggressive increases in asset prices, even though interest rates are high and rising.