Sunday, April 26, 2009
Depression or Hyperinflation?
In recent articles Martin Armstrong has changed his long held view that we cannot have a depression in this era because the Dollar is not backed by Gold and therefore the government of the USA can just print as much money as they want to, this in theory should lead to big inflation of all prices. The question is why has Martin changed his view on this issue?
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7 comments:
In which article did he change his view?
He no longer sees Depression?
He does see depression as expressed in a recent article. In the 1990's he stated that we cannot have a depression with a fiat currency. Inflation was the viewpoint then, because government can just keep printing, which is what they are doing. I think his current argument is that once capital has been destroyed wholesale by the banksters as now, then this forces a depressionary collapse.
Thank you.
Keep up the great work.
I think you meant deflationary collapse.
Debt levels (all money is debt) have reached astronomical (literally) levels.
I just read an article that quoted Obama saying to the Ghanian parliment "No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy, that is tyranny, and now is the time for it to end." http://news.yahoo.com/s/ap/20090711/ap_on_go_pr_wh/obama
This seems close to Martins views. What are his views on the current presidency?
Hey Suddenly,
Martin's view of Obama is that Obama is likely to be tempted to fly into the light of Socialism (he drew a picture of world leaders including Obama portrayed as insects with wings that are flying into the bug light of socialism). More government control of private enterprise is not the answer to wealth creation. As Marty said before, historically the best civilizations have has a balance between government regulation and private enterprise which is innovative and stimulates productivity. Both need each other, but don't work well if either gets unlimited control.
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