Ken Griffin says deglobalization will lead to higher inflation, potentially, for decades.  “We didn’t plan for an era with higher nominal and higher real rates when we went on the spending spree that created a $33T deficit…. There is no IMF for America.”

Mr. Griffin says that instead of us saving for a rainy day, “We’re spending, at the government level, like a drunken sailor.”  He thinks the rise in the 10-year is due to the strong economy coupled with large, unsustainable deficits.  Fiscal prudence should be one of the highest priorities discussed in the business community and Congress.

Mr. Griffin doesn’t see systemic risk in the multi-manager hedge funds. He also does not seem like a China hawk, as he seemed to push back against withholding sales of semiconductor chips to them.