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Strategies & Market Trends : Financialsense (FSO) - Jim Puplava forum
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To: sea_biscuit who wrote (72)1/11/2008 5:52:05 PM
From: the navigator  Read Replies (2) of 125
 
While listening to the big picture 2nd hour I found a typo. It's kind of important so I'm posting it here:

Transcript says:

JIM: Well, we are going to be covering this because it gets more complex as you get into the business cycle, the extension of credit. And remember we talked about this, remember we did a four part series of Dying of Money, and we addressed the issue that every time you get into one of these booms and then you go through a bust there is less of a tolerance for pain. So everybody wants government in the central bank to come in and do something about it. So what happens is instead of the day of reckoning, instead of the cleansing process that took place under the gold standard, what you have is a postponement of that day of reckoning by the extension of increasing greater amounts of credit. So every time that we go through this bust cycle, the credit cycle gets repeated and extended and it takes an ever increasing amount of credit to keep the whole system going. By the time we get to 2009 and probably 2010, we're simply getting to the end of that cycle. You're no longer able to extend that credit cycle any further. And the only thing that I would differ from people like Dent who believe that we'll be in a deflationary depression is I think we're going to be in a hyperdeflationary depression because that's always been the outcome of debtor nations. [4:26]

What Puplava says is I think we're going to be in a hyperinflationary depression because that's always been the outcome of debtor nations. [4:26]

This is at about 4:22 into the show.
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