NIA Warns Massive Inflation Could Hit the U.S.
FORT LEE, N.J., March 12 /PRNewswire-USNewswire/ -- The National Inflation Association today released the following statement to its http://us.rd.yahoo.com/dailynews/usnw/pl_usnw/storytext/nia_warns_massive_inflation_could_hit_the_u_s/31277789/SIG=10m3vscf7/*http://inflation.us/ members:
"The United States today is in a short-term deflationary phase caused by forced liquidations, de-leveraging, going out of business sales, and other temporary factors.
It is our belief that the monetary policies of the Federal Reserve and United States Treasury will soon put an end to this deflationary phase, and we will see massive inflation in the U.S. that could ultimately lead to Zimbabwe-style Hyperinflation.....
....Well, we all know that President Bush's $170 billion stimulus led to oil and food prices surging to record highs. We haven't even begun to feel the inflation that is coming from President Obama's $787 billion stimulus. With another stimulus already being considered and no one there to keep Nancy Pelosi in check, we are practically guaranteed to see massive inflation down the road that could wipe out the savings of most Americans."
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Lou, you have posted warnings about hyperinflation often. How do you define it?
ReplyDeleteCertainly a Zimbabwe-style hyperinflation would mean the end of our country. Do you really think that is a possibility?
What is hyperinflation? A 10% per year increase in the CPI? A 10,000% increase? Or will you know it when you see it.
Thanks.