The chance of an inflation shock may be higher than you think
Peter Berezin, Chief Global Strategist for BCA Research revisited the 1970s for lessons relevant to today, and finds that some common assumptions about the decade are wrong.
Cognitive blind spots
Cognitive blind spots are undermining our ability to see the world as it is, rather than as we would like it to be. At the start of the 21st century, western elites generally assumed that globalisation, democracy and the free market were self-evidently good, and would keep spreading, creating peace. N o longer. FIS, Swiss Federal Intelligence Service, has published a manual about cognitive blind spots. 18 different cognitive biases that hamper our thinking, such as “group think” (adhering to the cosy assumptions of our tribe), “anchoring” (relying exclusively on whatever information we see first, say on social media), “confirmation bias” (only seeing data that reinforces pre-existing views), “mirror imaging” (assuming others think like us), “absence of evidence” bias (failing to think about the data we lack) and “survivorship bias” (judging data only with success stories, not failures). Gillian Tett Financial Times 2 January 2026 https://www.ft.com/content/...
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