US Inflation Could Hit 200%: Dr. Doom
http://www.cnbc.com/id/29047443
The US risks being hit by Zimbabwe-style hyperinflation and there are signs that the world's biggest economy risks turning into a banana republic, Marc Faber, author of the Gloom, Doom & Boom report, told CNBC's "Asia Squawk Box."
"In the US, we have a totally new school, and it’s called the Zimbabwe school," Faber said. "And it’s founded by one of the great leaders of this world, Mr Robert Mugabe, that has managed to totally impoverish his own country. And that is the monetary policy the US is pursuing."
The government's increased intervention in the economy is likely to slow down economic growth because history shows that every time the private sector shrinks to make way for the government sector, the economy suffers, he said.
Asked whether the US risked being faced with 200 percent inflation, Faber answered: "Well, not yet. Not yet. But I think eventually. If I look at government debt in the US, and debt in general, I think the only way they will not default physically on their debt is to inflate."
The Federal Reserve's policy of printing money and the government's intervention in the economy might undermine the US's economic and political clout, Faber warned.
continue reading at the link
http://www.cnbc.com/id/29047443
hyperinflation to be here by
hyperinflation to be here by summer i've heard elsewhere.
ahhh.
...faber!
man i'd love to see faber, kaiser, schiff and rogers sitting at one table telling it like it is.
ahhh.
...faber!
man i'd love to see faber, kaiser, schiff and rogers sitting at one table telling it like it is.
With Ron Paul, that would
With Ron Paul, that would make a dream team!
“Paper money eventually returns to its intrinsic value - zero”. Voltaire-1729
www.4HUTS.com
“Paper money eventually returns to its intrinsic value - zero”. Voltaire-1729
www.4HUTS.com
how about End The Fed Convention and Rally
featuring all those you listed plus Ron Paul...
(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies. ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
Faber is always a good
Faber is always a good read.
And he's likely dead on about either default or inflate. Absent a massive positive shock like $50 / Gigawatt Hour tabletop cold fusion or something, there really aren't any other options.
As defaulting is infinitely less damaging to non government entities and teat suckers than massive inflation, I have long ago started advocating for default. Followed by US shutout from sovereign debt markets until we accept borrowing in hard currency, of course.
Either that, or for regional secession movements to start issuing their own, hard currencies and refuse to play along with federal tax mandates.
The Mugabe School of Economics! Right here in the US of A!
Who woulda thunk it a couple of decades back?
Brought to us by the three ring circus in the District of Corruption.
I hope this gets traction so that those idiots hear and read it, though I'm not so sure they're smart enough to take offense.
What would 200% inflation look like?
To give is a little more meaning, a 200% annual rate of inflation would mean that prices double every 4.2 months.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Oh well if my salary doubled
Oh well if my salary doubled every couple of months it wouldn't be so bad but I seriously doubt it ever will. As a matter of fact if hyper inflation comes I will just refuse to pay taxes because they steal it any way.
one
one question. i was wondering, in a hyperinflation scenario, how would stock prices adjust? i know they wouldnt be able to stay at current levels.
people will panic to get
people will panic to get their doillars spent because they will not purchase what they did before.. so stocks, houses anything tangible will go up. or atleast that is the theory!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
My suggestion ...
Stock up on food, necessities, anything you can use for barter. Get a good water filtration system so you and your family can survive without standing on line all day long.
Now is the time to get ready!
yep anything you can buy now
yep anything you can buy now and store would be great.. at the time the inflation hits you would save big time. Soap, shampoo, food, fuel, clothes etc.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
stocks would become worthless
--------------
"So this is how liberty dies... with thunderous applause."
--------------
"So this is how liberty dies... with thunderous applause."
* * * * * * * NEW R3VOLUTION HIP HOP TRACKS!! * * * * * * *
Http://www.YouTube.com/mortisnoctu
perhaps shares in gold mines will retain their value
btw Ron Paul holds some shares in gold mines.
(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies. ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
hopefully but
i don't know if anything would during hyperinflation
--------------
"So this is how liberty dies... with thunderous applause."
--------------
"So this is how liberty dies... with thunderous applause."
* * * * * * * NEW R3VOLUTION HIP HOP TRACKS!! * * * * * * *
Http://www.YouTube.com/mortisnoctu
Zimbabwe
It's important to note one big difference between Zimbabwe (and Wiemar) and the current situation: the denomination of debt in foreign currency. This makes the connection between printing too much domestic currency and inflation rather easy to understand.
On the other hand, the massive US debt is denominated in our own currency despite large holdings by foreign entities. I'm pretty sure this is unprecedented throughout history. The people in charge are making up 'solutions' as they go, despite obsessions with problems from 80 years ago.
Scary times.
He was on CNBC as a guest
He was on CNBC as a guest host for 2 hours. He made a lot of good pointers. Here's a list of the segments.
http://search.cnbc.com/main.do?keywords=faber&target=video&i...
I like it--I think I'll use it
"The Zimbabwe School of Economics"--although I recognize that many, if not most, to whom I will say that will have no idea what I'm talking about...Sigh....but I'll use it. May open the door for conversation about this very important topic.
I had a hearty laugh at that
"The Zimbabwe School of Economics"-- here is a cool title for Kevin Tuma next political cartoon*)
(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies. ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
I should use it--lol
But regardless, let's make it part of the vernacular! It's a great phrase.
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
such a cool phrase
I've been thinking to start a t-shirt business with such cool Liberty oriented eye cathing slogans...
(Better) to be confused in the search for truth than fully confident and sound asleep in a dream of lies. ~ Michael Nystrom
http://www.votenader.org/blog/2008/09/10/statement-to-ron-pa...
http://www.flickr.com/photos/57925480@N00/2660779139
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
That
ain't a bad idea.