Our long standing position is that the ongoing asset price deflation, debt deflation, now with rising unemployment, falling demand and recession will lead to further erosion in the purchasing power of the dollar and thus to more inflation. Deflationistas have repeatedly called for a deflation spiral and all-goods prices declines for the past several years, since at least 2005 . Before one can make a claim as to whether it’s inflation, deflation, or hyperinflation lurking behind door number two, we have to agree as to what inflation, deflation, and hyperinflation mean. Clearly we are seeing price deflation in asset prices–stocks, housing and soon commercial real estate–and marked-down consumer goods as the Monthly Payment Consumer buckles under the combined pressures of rising inflation and unemployment. read more

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