I can sort of see the argument for both - inflation and deflation.
Inflation - printing presses working 24/7 and a government that would make a drunken sailor blush.
Deflation - why do interest rates keep going down and banks anxious to sign people up for loans that have rates that would have been unthinkable in all of our lifetimes? If the case for runaway inflation was so solid, it seems like everyone would want to take out a loan that could be paid back with monopoly money and no one would want to make such a loan. Yet that is obviously not the case.
I guess one day we’ll know how this movie turns out.
We just *had* 6 years of deflation. Housing. Employment. Stocks. Salaries.
Now, after all of that time and deflation, we have a recovery. Stocks up. Employment up. Liquidity up.
Jim Rogers has gotten economics backwards both times...6 years ago and now today.