Prepare for an inferno of inflation

One of the more talked-about news items in recent weeks was the very public resignation from Goldman Sachs of Greg Smith, an executive director and head of the firm's United States equity derivatives business in Europe, the Middle East and Africa. In a letter to the New York Times he wrote:

"The interests of the client continue to be sidelined in the way [Goldman Sachs] operates and thinks about making money... It makes me ill how callously people talk about ripping their clients off... managing directors refer to their own clients as 'muppets'".