John Williams of Imperial Death March
John Williams of "Inflation" Death March
Posted on 09/14/2010 7:23:11 AM PDT by TigerLikesRooster
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Didn’t John Williams compose “The Imperial Death March”?
“Hyper-inflation”? Doubt it.
Run-away inflation? Oh, yes.
Get seeds for your vegetable garden early. They may be short supply next spring.
Is this the first time he’s predicted this? Has he been wrong all the other times?
Agreed. The dollar will lose maybe 5/6 of its buying power by 2012 - and that’s terrible, but it isn’t hyperinflation.
The dollar could come back from a 5/6 loss, assuming a change in government in 2012. And I think we can assume that.
ping
The exact opposite of what Warren Buffet (and Obama) says.
Williams has constantly predicted hyperinflation for at least the past two years. He has consistently pegged late 2010 - early 2011 as the most likely dates for its onset.
“’Hyper-inflation’? Doubt it.
Run-away inflation? Oh, yes.”
Hyperinflation is runaway inflation. They are what the english language calls synonyms.
Interesting article...thank you for posting.
However - if by hyperinflation he simply means a situation where people suddenly run away from the dollar and buy commodities like there’s no tomorrow - then he’s right.
Its the Zimbabwean or Weimar republic version of hyperinflation which won’t happen. Not to America anyway.
I think the dollar will 'inflect' - a sudden devaluation that will wipe out unprepared members of the middle class - but then the dollar value will remain more or less stable.
'Hyperinflation' is usually used for an absurd level of runaway inflation, in the sense of "an extra zero on the currency every week". Whereas 12 to 20% inflation would be what most people think of as runaway inflation.
Hyperinflation is also used by some commentators for the sudden drop-then-stop devaluation I've described above. We probably need a different term for this though.
We could use 'PEMEX-ification', because something very similar happened to the Mexican currency when the state's assets in the form of PEMEX lost most of its value. But that's never going to catch on. Because, hey, Mexico.
John Williams? I really loved his Star Wars soundtrack....NOT!
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My take is the cost of things we buy will go waaaay up and the cost of labor will sink. If you need a 'thing' get it now - if you need 'work done', put it off.
I pulled out all my home equity and refi’d below 5% fixed.
I hope to pay it back with Baraqqi minibucks.
Inflation is here, now. You can see it everyday, IF you look for it Time to pay attention again folks.
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