Today I introduce you to the deflationist arguments of Whiskey and Gunpowder editor Mike 'Mish' Shedlock, whose logic is quite similar to my own ' perhaps even uniquely so, given its unmitigated vehemence. For one, we both agree that nothing short of outright deflation can cure the world of its debt disease. For two, we both see deflation as not merely likely, but inevitable; and for three, neither of us has met a counter-argument that couldn't be knocked down as easily as a shooting-gallery duck in the crosshairs of a .50-caliber machine gun. Not that that has stopped the ducks from quacking away, In the polemic below, Mish takes on Jim Puplava, whose observations about the economy and stock market at Financial Sense Online usually make good sense. This time, though, facing Mish's impressive firepower, Jim comes off as a sitting duck. You can judge for yourself: . 'Sometimes,' Mish writes, 'I wonder whether I am on the same planet as those who espouse hyperinflation. The debate among inflation, stagflation, deflation, hyperinflation and just plain "'flation" has been raging for years. Most sides do not even state the other side's viewpoint correctly. Now, perhaps I mean that most do not understand my viewpoint correctly, which is indeed a different thing altogether. Then again, there is so much general confusion that it is high time we get a decent dialog going so we can better understand the other points of view. In that regard, I have been following the "deflation debate" on the Financial Sense Newshour with Jim Puplava. Deflationists as Dummies 'Let's backtrack to May 7, 2005. In a one-hour commentary (in the segment entitled "The Big Picture") Jim Puplava attempted to explain "Why the Deflationists Simply Don't Get It." Here is a summary of what he said then, at
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