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I like Mish and I read his articles every day.

But he really goes off the deep end.

He is strictly a deflationist and everything that happens in the world of economics (even rising food and gas prices) he refuses to ascribe to inflation.

It really is not that difficult to understand. Inflation is creating more money (out of pace with GDP). Deflation is taking money out of circulation. Both economic acts have both inflationary and deflationary effects.

As I said a couple of years ago, we are going to experience the extremes of inflationary AND deflationary effects with what the leftists are doing to the economy. Costs for the essentials will skyrocket (inflationary) because of the weakened purchasing power of the dollar. Asset values and incomes will decline (deflationary) because of the recession/depression and employers having to spend more money on higher overhead (fuel, taxes, etc.).

It is almost laughable to read Mish trying to explain the rise in the cost of petroleum as not being related to the weakening dollar. Up until recently, if you overlaid graphs of the dollar and the cost of petroleum, they were so nearly perfectly an inverse reflection of one another (dollar goes up, petroleum goes down and vice-versa) that it looked a mirror image. The reflection has skewed a bit in the past few quarters, but is still very traceable.

As for all the rest, Obammie the Commie stated clearly that the cost of energy would skyrocket under his control. He stated it plainly, and he and his cronies have caused it to happen.

If we had our own petroleum reserves tapped and ready to run at the flip of a switch, the troubles in the Mideast would have almost no impact on our flow and cost of oil. If they threatened to cut production, we’d just counter by upping it. The leftists have taken that trump card away from us.

Also, Mish is a diehard Ron Paul supporter. How can anyone delude themselves into believing that Iran is not trying to obtain nuclear weapons? Seriously, do they really need nuclear power when they have all the petroleum they need? Have they really proved themselves to be the sophisticated, peaceful global partner of the 21st century. I’ll have to look into that ‘report’ that came from Israel. But Iran is a threat, regardless of what Israel says.

Only a fool or your enemy tells you to ignore the bully who is threatening to kick you a$$, is stalking you, and keeps taking sucker punches at the back of your head.