Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office.
“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said. “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”
Federal Reserve Bank of Philadelphia President Charles Plosser said on May 21 inflation may rise to 2.5 percent in 2011. That exceeds the central bank officials’ long-run preferred range of 1.7 percent to 2 percent and contrasts with the concerns of some officials and economists that the economic slump may provoke a broad decline in prices.
I just dont see that happening as their wont be too much currency chasing too few goods in the next few years. It will probably be like it is now for a while where most things cost about the same but food and health care go up. I actually think in Q3 when the next dip in GDP is official that oil will go under 60 dollars again for a while. To have hyperinflation you need actions like in the Weimer Republic and that isnt happening here. We are more likley to have a US 1930's style deflationary depression again.
ReplyDeleteThis article was written on 27 May 2009!!!
ReplyDeleteThis is going to be totally different than anything ever before.
ReplyDeleteIt will be worse and far more random.
8:47 so what? Come to CANADA a whole cooked chicken is $9.99! If that is not inflation I don't know what is. AND $9.99 a lb. for chicken breasts!
ReplyDelete842
ReplyDeleteyour family is fukked
beware i dont see
you are not looking
its already doing it prices going up less money aND LESS JOBS
good luck buy gold
youll need it
it will happen quickly
you have been warned
either prepare or starve
i see great similarities to the sixties--huge welfare programs and spending while fighting a war. guns and butter. it led to rip roaring inflation. couple that idea with what is on the books and the hidden costs maintained off the books and i'd say we're in for an incredible dose of inflation. You don't need to be a weatherman to know which way the wind is blowing.
ReplyDeleteHyperinflation already occured with the housing market from 2002-2007. Extra low interest rates and extraction of phantom wealth from houses. What is happening now is the Fed's are trying to contain deflation.
ReplyDeleteAccording to the faux news financial babes, everything is looking good, economy is improving, fake unemployment figures down, money supply down...It just doesn't get any better than this!
ReplyDeleteLong live the faux news financial babes!
IT'S ALL BY DESIGN!
ReplyDeleteObama said green shoots are everywhere - Change has arrived.
ReplyDeleteScroll down 4 stories
ReplyDeleteThat one is
wait for it -----------------
That's right - MASSIVE DEFLATION
And he's 100 percent sure as well
What a bunch of jackoffs they ALL are
Hogwash I say. If the FED ever allowed Zimbabwe hyperinflation you would have anarchy in the streets.
ReplyDeleteFaber needs to cut his f'ing ponytail and get a f'ing clue, He will lose ALL credibility with this call
ReplyDeletehistory is any indication that 95% of deflation will follow by inflation. we are in deflation now so 95% chance we will have inflation. the FED already at least doubled the money supply and that money is yet lend out. can u imagine when that money is out in the economy? once the money multiplier kicks in we will have hyperinflation.
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