|
| I don't think I was "in the deflation camp" so much as I thought that we could have one followed by the other. And that inflation was far from a certainty in the shorter term - that deflation was maybe equally as possible, or even a bit more likely. We are currently seeing a shrinking class of people to whom more and more is owed by all of the rest. This trend, to me, surely looks dangerous for us in the middle class. Inflation for the upper class (stocks, bonds, high-end real estate, etc.), but not in what we produce and sell? Looks very possible to me. Hopefully, the upper class continues to want to buy farm land, even if profits in farming are poor. | |
|
Monetary Tetonics....
