Hyperinflation will be the last straw. It will be the dead sentence for the prudent saver, the ones who looked after themselves by putting aside every month a little amount of money for darker days.
This will be the beginning of the end of a country gone mad by greed.
Bloomberg; By Chen Shiyin and Bernard Lo
May 27 (Bloomberg) -- The U.S. economy will enter “hyperinflation” approaching the levels in
Prices may increase at rates “close to”
“I am 100 percent sure that the
Federal Reserve Bank of Philadelphia President Charles Plosser said on May 21 inflation may rise to 2.5 percent in 2011. That exceeds the central bank officials’ long-run preferred range of 1.7 percent to 2 percent and contrasts with the concerns of some officials and economists that the economic slump may provoke a broad decline in prices.
“There are some concerns of a risk from inflation from all the liquidity injected into the banking system but it’s not an immediate threat right now given all the excess capacity in the
Action Economics is predicting inflation of minus 0.4 percent in the
Members of the rate-setting Federal Open Market Committee have held the federal funds rate, the overnight lending rate between banks, in a range of zero to 0.25 percent since December to revive lending and end the worst recession in 50 years.
The global economy won’t return to the “prosperity” of 2006 and 2007 even as it rebounds from a recession, Faber said.
Equities in the
Faber still favors Asian stocks relative to
Faber, the publisher of the Gloom, Boom & Doom report, said on April 7 stocks could fall as much as 10 percent before resuming gains. The Standard & Poor’s 500 Index has since climbed 9 percent.
Faber, who said he’s adding to his gold investments, advised buying the precious metal at the start of its eight-year rally, when it traded for less than $300 an ounce. The metal topped $1,000 last year and traded at $949.85 an ounce at 12:50 p.m.