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I've had some debates as to whether the US will experience inflation, deflation or hyper-inflation with a few members on this board. I have stated my case as have some other members that the dollar can not collapse unless foriegn currencies remain strong or flat.
Well, as each day passes, there is more and more evidence that we are headed for DE-flation. No, not deflation FOLLOWED by hyper-inflation because foreign countries are printing as much (& often more) currency than the US.
Here is an update along with a video that tells Schiff he's dead wrong about hyper-inflation.
"Schiff needs to get off his anti-Obama, anti-dollar mindset and take a look at the global economy and problems elsewhere, especially in China, the UK, and the Eurozone. That video proves he is not capable of doing so. It equally proves he does not fully understand the deflationary forces of Peak Credit and the global debt unwind that are happening. For a previous debate with Schiff please see Not Your Father's Deflation: Rebuttal and Peter Schiff Replies to Deflation Rebuttal."
"Deflationary pressures have never been greater in the US, UK, EU, Canada, Australia, and other countries. Collapsing debt bubbles, rising foreclosures, rising defaults, and rising unemployment are deflationary forces. And those forces are global, not just in the US."
"The big thing Schiff missed this year was in his decoupling theories. Schiff invested as if the US would crash and that everything else would be fine. The decoupling theory never made much sense. To believe in decoupling is to believe the tail wags the dog. And instead of saying how much his fund is up off the lows, he ought to disclose precisely how his anti-dollar fund plays are doing this year.
What happened was that although the US stock market collapsed, China, India, Iceland, Japan, the UK, and numerous other places collapsed more. So when the dollar rallied on top of that, investments in those places got mercilessly hammered."
Peter Schiff's arrogance is going to embaress him very soon. He continues to speak as if he IS the world guru on economic theory and right now, he doesn't have a clue. His opinion is just another opinion from a very knowledgeable economist...no more, no less
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Re: Why Peter Schiff's Hyper-Inflation is dead wrong
Originally Posted by MrBigglesWorth
you can't argue with the monthly $65 billion dollar trade deficit.
I partly agree with him. He is anti obama and ani mccain.
Time will tell. When you look at the US GPD compared to other nations, it's obvious how dependent the world is to US demand. These countries are dependent upon us BECAUSE of that trade deficit, so our trade deficit is a good thing to them.
Once again, they only way it is even possible for the US to see hyper-inflation is for our currency to be devalued compared to the rest of the world. If half the world's currency becomes grossly devalued, then hyper-inflation is impossible.
Last edited by PatriotsReign; 11-10-2008 at 12:28 AM..