patrick.net

HousingBoom says

Don't take it from me. I'm just an average Joe behind a computer. Peter Schiff

Those guys you quoted don't have perfect prognostication records.

I fully believe the system would tolerate the Fed repeating another dose of wage-price inflation like what we got 1970-1980:

http://research.stlouisfed.org/fred2/graph/?g=1GW

However, I think few people actually understand what the 1970s inflation event was all about. My thesis is that compared to now, things were much more in fiscal balance and there was a lot of expansion still left in the cards.

http://research.stlouisfed.org/fred2/graph/?g=1GX

Anybody who's 100% certain of anything going forward is just trying to sell you something.

Bellingham Bob says

Anybody who's 100% certain of anything going forward is just trying to sell you something.

Very true. Only time will tell

grywlfbg says

That's right, rich people.

Sorry, I believe the proper term is Job Creators.

Bellingham Bob says

Anybody who's 100% certain of anything going forward is just trying to sell you something.

Sing it, Brother Bob. Quoting Peter Schiff as any sort of authority is misguided. These kinds of people talk their book.

bubblesitter says

grywlfbg says

Deflationary depression here we come.

It is pure common sense, how can we go the other way with such a massive load of debt. I just don't get it.

I agree. I think it's much more likely to be deflation or only moderate inflation. The hyperinflation argument seems far less likely -- what is the real mechanism? Currently we are still working off credit, i.e. deflation due to the burst of the credit bubble. If the government is throwing cash into the mix, like Japan, it is largely offsetting the credit. The inflation already happened during the bubble when credit increased significantly.

btw, I really like Schiff. He was right when it mattered, in 2007-2008.

I'd like to think the CNBC clowns knew he was right, but had to toe the party line regardless. The mere act of giving Schiff airtime was all Fox/CNBC had to do to inform the clueful.

Bellingham Bob says

btw, I really like Schiff. He was right when it mattered, in 2007-2008.

Anyone can be right for short periods of time. All it takes is staking out a position that is plausible.

Just talk to John Paulson:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/10/bloomberg1376-LPOFMK1A74E901-4Q2JPC453VOJE0PMSOCLM0O906.DTL

Or if the Chron is too socialist for you, the WSJ:
http://blogs.wsj.com/deals/2011/08/19/guess-whos-getting-crushed-by-hewlett-packard-john-paulson/