uh, he didn't say Fuck off...he just put that fucking moron Martin in his place... Martin is the biggest tool on CNBC and that is saying ALOT... Fraggle Rock and him will battle it out actually for top douche
I'm not a Rogers cultist but he is SO correct on this point. The risk down the road is NOT deflation but massive currency devaluation..
Yes...the talking heads are babbling about 'deflation'...but they couldn't be more wrong if they tried.. unprecedented credit deceleration - YES deflationary period - NO DX could go to 87.50-89.50...maybe even to 96... but it just means we have further to fall..
Are you NUTS! When the buying power of your money becomes ZERO... like Monopoly money, how is that good for you?
when Bank of America goes under, the CPI is running at -10% annualized, oil is at $30 and obama nationalizes the 401k/IRA system for those who make more then $200k a year in order to promote 'justice' for the 14% unemployed, how is that good for you?
Down the road, it is not an argument for deflation or inflation. Deflation will not work because shrinking US GDP will put heavy burden on US to service its debt. So.... the only option is to have inflation. If we can have higher inflation but not hyperinflation, that is good enough.