Almost two years ago I wrote in The Sovereign Strategist that a recession was coming. The “experts” told you there wouldn’t be one. The recession came and I said it was going to be worse than it looked. The “experts” told you it was nothing and that it probably didn’t even happen. I told you they were wrong and later we discovered that in fact they were wrong. I told you we’d likely see a “double dip”. The experts said we’d see a recovery in the second half.
I’m telling you now that deflation is a real threat. The “experts” don’t even talk about deflation because it hasn’t been a problem in the States during the entire “postwar period.” The “experts” have yet to realize that we’re no longer in the “postwar period”.