Matthew Yglesias Disagrees with Jim Rogers; No Inflation Fears
Posted on | October 20, 2009 | 2 Comments
Matthew Yglesias completely disagrees with Jim Rogers, Peter Schiff and Ron Paul about inflation fears. Today on his blog he posted this: “The inflation fears we’re seeing are some kind of macroeconomic moral panic. Surely we’re going to reap the whirlwind for all this spending! But the evidence suggests that we’re not. And the very same evidence also suggests that it’s not the case that we’re in some kind of special kind of business cycle downtown that can’t be remediated through stimulation of aggregate demand. As long as inflation is abnormally low, we need to (a) stop worrying about inflation (b) engage in more expansion.”
It is interesting that the fear of devaluation of the dollar is not at all a concern for Yglesias. The Federal Reserve Bank printing money at will to bail our country out of this recession is going to do absolutely nothing as far as devaluing the dollar and causing inflation? President Obama and Ygelsias must agree the the dollar is “still strong” but it sure seems investors and speculators would disagree.
As the dollar has plummeted in value the price of most commodities as drastically increased. Since the beginning of March, when the President and Ben Bernanke agreed to print money at an accelerated rate the dollar index has dropped from approximately 89 to 75.5. In that same period the price of gold has increased from $900 to $1065. Obviously it takes much longer than seven months to determine who is right but at this point I have to agree with Rogers, Schiff and Paul rather than Yglesias.
Make sure to return to Subprime Blogger to get your Peter Schiff news. We also write columns on Jim Rogers, Ron Paul and Gerald Celente as these men have done a great job of pointing out some of the problems America faces. Each of these men correctly predicted the decline of the dollar and the subsequent commodity bull market. We will continue to keep you updated on the commodity bull market as well as commentary from these individuals. The columns are located in the Current News section with a link located below.
Author: Alan Lake
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2 Responses to “Matthew Yglesias Disagrees with Jim Rogers; No Inflation Fears”
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October 21st, 2009 @ 8:34 pm
Who is Mathew Yglesias? What track records does he have?
Why do I waste my time reading this crap???
October 23rd, 2009 @ 8:02 pm
He’s a 28 years old political blogger.
I’d never heard of him before either, but I found this info in Wikipedia:
http://en.wikipedia.org/wiki/Matthew_Yglesias