Ricks Picks header image

Hey, You Inflationistas: Was That Your Best Punch?

My recent commentary on the catastrophic debt deflation that lies ahead drew the usual sniper fire, all of it from dreamy inflationists who didn’t address a single point I’d made. Each had his own theories about why (hyper)inflation rather than deflation is more likely to do us in, but none was even logical, let alone persuasive. I’m still waiting to hear some good arguments, so text away. If you want to add your two cents’ worth, please explain how the upcoming Great Pension Bust can be dealt with in a way that would be inflationary. And bonus points to anyone who can explain how digital helicopter money will be used to reinflate the financial/credit system when the byzantine clearing network that supports plastic money lies in smoldering ruin. A daisy chain, it currently operates solely on misplaced trust — trust that will vanish the instant the banks fail to open (and even less trustworthy at that point would be block-chain money.)