i want to add, i think he's still in the deflation camp if one had to find a definition for it... as defined by saying "re-inflation" will fail.
but not allowing the system to clear its mal investments on the one hand, and attempting to avoid the clearing by re-inflating in place of clearing... is of course bubble making...... but now at warp speed and on a planetary scale. as measured against gold, this has failed miserably over the last decade, and even more so now as we watch. In gold terms, their attempts have gone absolutely no where, and gold has outperformed virtually every market on the planet in real terms, and year after year after year, since it bottomed.
Many people missed that, because the returns were slow in slow motion, but voila, look at the charts, the turtle is still winning.
from diocletion to john law to the french assignats to weimar to zimbabwe, we know it will fail, and we know the flavor of the end game, if not yet the actual final color (though i suspect blood red will be as likely as any).
i think we stag flate........... and if we're lucky, someone will come along and put a stop to the inflationary side of that coin, though with some agreement in hand, regarding currencies.
and thereby, it is rubbish to talk about deflation or inflation as it has been discussed to death over the last decade.
if we are unlucky, we'll inflate into hyper destruction of everything... all prices will become as meaningless as a Zimbabwe bank note with 100 Trillion Dollars printed across its face in nominal terms.
in real terms, you already know the answer... anything that holds value better than a bank note from Zimbabwe. |
