Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (35699)	7/3/2003 10:32:28 AM
From: sciAticA errAticA	Read Replies (1) of 74559

"Sometimes inflation threatens the world's paper money system. Sometimes deflation menaces it. It is theoretically impossible for both of them to pose a threat at the same time. But here at the Daily Reckoning, we're too naundefinedve and simpleminded to worry about the contradiction; we see a danger from both inflation and deflation. "In a textbook deflation," my old friend Rick Ackerman helps to explain this dizzy situation, "cash supposedly is king. This implies that, to survive deflation, you must stay mainly in cash or near-cash until a bottom is reached. But this is not a textbook deflation; rather, it is like no other deflation that has occurred before in human history, since it will be the first to emerge atop a global currency system that has been hollowed to the core." Bill Bonner, Daily Reckoning, July 3, 2003

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