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100% Sure U.S. Inflation to Approach Zimbabwe Level - Oh My

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posted on May, 28 2009 @ 09:38 AM
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May 27 (Bloomberg) -- The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.

Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office.

“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said. “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”


bloomberg.com...

Oh dear, Looks like us ATS folk have been right all along. Maybe we should be in charge of the government!





posted on May, 28 2009 @ 09:41 AM
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That is terrifying news. For someone to say he's 100% sure is taking quite a gamble and could ruin his reputation and career if he is wrong. That's panic talk - I hope.



posted on May, 28 2009 @ 10:22 AM
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Well, Bloomberg is a reputable source but anybody who says they are 100% sure about anything to do with the mystical financial system and predicting the future is exaggerating. It's simply impossible to know for certain - any number of things could happen to shake up the situation.

I'm not saying we won't have horrible inflation, cos we probably will - but I am aware that unexpected things happen every day, especially in volatile situations. I mean in many ways we are living in the days of unintended consequences and you just never know when some unintended consequence might work in our favour
*optimist*

Also I'm not the least bit worried about the US becoming a Zimbabwe... Personally I don't feel you can really compare what happens to a currency used by 13 million people to one used by several hundreds of millions globally.



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