Schiff is right — I’ve read other article, don’t have time to find them.
Massive spending and deficit will result in the Fed printing more and more money, check out Glen Beck’s site, he has a graph on how the money supply is increasing drastically, which will inevitably lead to a weak dollar and huge inflation.
Schiff is a mental midget. He doesn’t even begin to grasp why Japan saw 27% deflation from 1998 through the end of 2008. Schiff stutters when asked to explain why Japan saw 6% deflation in the single year of 2003 where Japan printed an extra $53 Trillion Yen.
Not everyone on this planet understands the credit markets...a fatal flaw for anyone attempting to explain credit-based fiat economies without mentioning the destruction of credit availability.