Long, fascinating interview (as usual with Kyle Bass) that only briefly touched on oil. He is an inflationista and says that without the cheating inflation should be more like 11%.
Kyle Bass:"So, some of the inflation is, without a doubt, transitory,
but they’ll have to start raising wages at the lumber mills so the
price of lumber will resume its upward trend, it’s just not going to go
up 700% in five or eight months, right? So, there are a few things that
will be transitory, but like we’re talking about food, iron ore, energy,
I think we’ve dramatically underspent in energy, and I think we’re
going to see $100 crude this year. We’re in July 2021. After seven years
of malinvestment, and the crowd that is virtue signaling that we just
can flip a switch and go electric, I think they haven’t done the math,
and I don’t think they realize that hydrocarbon demand is inelastic."