Peter Schiff debated “Dr. Doom” Nouriel Roubini on CNBC this week on a range of economic issues, such as inflation and deflation, gold and consumer prices. Although Schiff has been calling for hyperinflation and a spike of gold prices, his analysis is indeed correct and it’s inevitable that the aforementioned will likely take place.
An interesting quote that Schiff had was near the end of the video when he said “it takes a while for these problems to surface.” An example of this was the housing crisis, an issue that took a long time to come to fruition. The same thing will happen with inflation: it’ll take some time to see the effects of the Federal Reserve’s disastrous policies.
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v M = P Q. as long as velocity of money is low; we will have low inflation. where did schiff get his PhD in economics?