Understanding the way demographics drive the economy and markets is core to our coverage here at Real Vision. Vincent Deluard, director of global macro strategy at INTL FCStone, zeroes in on this theme and explains how the response to coronavirus is sowing the seeds of intergenerational conflict. As younger generations once again put their lives on hold to make sacrifices for the old, previously unthinkable policies are already rolling out with potential for lasting change as political power shifts from boomers to millennials. He also argues that political friction isn’t the only risk being cultivated and cautions investors to think about the long-term risk of inflation. Filmed on April 17, 2020.