The economic discussion under my last post segues nicely into this next read. This is especially for Bantering Bear, who so far has not seen a good case for hyperinflation and doesn’t think the current crises will go that far.
The following is a special report written by a career economist who argues that we are part of a much larger cycle, one that began in 1933, when Roosevelt decoupled from the gold standard. He says that inflationary recession is in place, that the banking solvency crisis has opened the first phase of monetary inflation, and that hyperinflationary depression remains likely as early as 2010. Interestingly, this report was written almost one year ago, with many of his predictions beginning to unfold. I’ll be interested to hear what you guys think. Warning, this is a long, academic read, but well worth the effort. Here’s the PDF Version.
About the author: Walter J. "John" Williams was born in 1949. He received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as Fortune 500 companies.
[Note: For those of you who only care about local real estate, skip this post. However please consider the possibility that if these events unfold as predicted, it will very much affect the value of your dollar, your real estate and your quality of life. I have always only been interested in the truth about our marketplace. In time, the aftermath of large-scale, global, monetary policy decisions will trickle down to Reno and I believe affect us all. We should be prepared.]