Aired on the Doomstead Diner on November 18, 2014
Discuss this Rant at the Podcast Table inside the Diner
Speedy Gonzalo Lira sez, “OOPS! I guess I made a MEEESTAKE!”
…Remember back to 2008-2009 when Hank Paulson pulled out the Bazooka to bail out the TBTF Banks, and then Helicopter Ben Bernake launched the first of his QE ships? Pundits in the Econ Blogosphere went berserk, predicting imminent Hyperinflation of the Dollar. John Williams, Speedy Gonzalo Lira, Mish, you name it they all predicted rampant HI which somehow never arrived here.
Meanwhile in the dark secluded corners of the internet, a few people like Nicole Foss of The Automatic Earth, Steve Ludlum from Economic Undertow and myself all predicted a deflationary event coming down the pipe, at least for the Dollar.
What is the situation today? Deflation is now the word of the day spoken fearfully by Central Bank chieftains, and even notorious Hyperinflation predicting sites like Zero Hedge are on the Deflation Bandwagon…