Wednesday, August 3, 2011

Doug Casey - Inflation to Start Running 20% - 40% Per Year

“Inflation in the next few years is likely to start running ahead at 20% or 30% or even 40% per year or more and that’s going to devastate the prudent people in this country and perversely it’s going to reward the imprudent ones, the grasshoppers in our society that are deeply in debt because it will wipe their debt out. This is all quite perverse, very bad.


When asked if the imprudent will also pay because they will have a tough time sustaining themselves during that period of rapid inflation Casey responded, “Well they might because they may be unemployed. With inflation at high levels, the standard of living is going to go down rapidly.


There is going to be more unemployment. There are going to be more business failures and even if your debt is being wiped out by inflation there is no guarantee that you are going to be able to service it in the meantime. This is pretty much a lose, lose proposition. Nobody wins when an economy is destroyed and that’s what the US government is doing to what’s left of the US economy at this point.

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