How Can the US Hyper-inflate With So Much Debt?

Economist John Williams, Gene Epstein and Michael Oliver return this week on the radio program.

John believes the U.S. is destined for a Weimar Republic like hyper inflation. But recent history suggests that with so much debt sloshing around the globe, consumer price deflation not inflation, will prevail.  With America once again facing prospects of a financial crisis, we asled John what underlying forces will be in play to trigger hyper inflation. Might it have something to do with the dollar, which as Michael told us last week, is destined for a dramatic decline?

Gene joins us after a long absence to discuss his upcoming debate with Dr. Teresa Ghilarducci at the SoHo Forum in which he will argue that given Social Security’s nearly $3 trillion trust fund, the system cannot add to the federal deficit. Michael passes along his usual prescient observations about the stock, bonds and precious metals markets.

Audio
You Tube

Walter J. “John” Williams (known as John Williams) was born in 1949. He received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth’s Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as Fortune 500 companies. For more than 25 years, John has been a private consulting economist. Out of necessity, he become a specialist in government economic reporting. He learned that virtually all economic stats quoted by the U.S. Government are spun using optimistic assumptions that often bear little reality but make politicians look good and put money in the pockets of Wall Street. John writes the Shadow Government Statistics newsletter and his work has been recognized by the main stream media where he has been quoted in publications like the New York Times and Investors Business Daily.

Gene Epstein has recently stepped down from a 26-year stint as Economics and Books Editor of Barron’s, with plans to write long-form articles and books. His last published book was Econospinning: How to Read between the Lines when the Media Manipulate the Numbers. He has taught economics at the City University of New York and St. John’s University, and worked as a senior economist for the New York Stock Exchange. He’s appeared on podcasts that include Russ Roberts’ “EconTalk,” “The Tom Woods Show,” and the Reason podcast, and has delivered lectures in venues that include the International House in Tokyo; Loyola University in Baltimore; Universidad Francisco Marroquin in Guatemala City; the Romanian-American University in Bucharest; and the American Center in Moscow. He is Executive Director and moderator of the Soho Forum, and also an occasional debater. 

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism.