‘Real News From The Blaze’ Panel Discusses the Finer Points of Inflation

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• sbenard

  Posted on March 3, 2012 at 8:24am

  I watched this discussion live on Real News. Cain makes the case that in an environment of too much debt, the winding down of that debt will cause deflation. But he erroneously assumes that deflation of debt-purchased assets like residential real estate is going to cause deflation of ALL assets. He erroneously assumed that deflation of debt-purchased assets will extend itself to NON-debt items! His arrogance is quite sickening! He is painting himself as a know-it-all whose hubris turns the public off to his opinions!
  Perhaps he has missed the rise in food and fuel prices in the past three years! Corn, the bellwether grain and largest food crop, was $3.43/bushel in June 2010, and it reached $6.60/bushel Friday, nearly a doubling in price in 20 months. Other food commodities show similar price increases!
  He challenged Matt McCall to “prove” that the expanding money supply will cause inflation, rejecting McCall’s chart showing the rapidly-growing money supply.
  Matt McCall works in the financial industry, and yet Will Cain egotistically believes he knows more about finance and economics? I would love to debate Mr. Cain on this matter! McCall was correct, but he was mildly unprepared for the discussion and relentlessly interrupted by Cain’s arrogance!

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  • sbenard

    Posted on March 3, 2012 at 8:34am

    Interestingly, Will Cain apparently hasn‘t done enough research into the subject to understand that the entire purpose of Bernanke’s quantitative easing program over the past three years is to REinflate! He even gave his now-famous “helicopter” speech to boast of his capability in inflating prices. In an op-ed in the Wall St Journal in fall 2010, Bernanke boasted of his prowess in relentlessly inflating the prices of stocks, claiming that just inflating the stock market would create jobs! But Bernanke refused to acknowledge that his money printing was inflating the price of food and energy commodities, also.
    If Bubbles Bernanke believes his monetary mayhem can create inflation, and even boasts about it, then who is Will Cain to dismiss that phenomena?
    By the way, in Bernanke‘s most recent written commentary released following the FOMC’s most recent meeting, Bernanke made one small, but significant change from his previous statement. He omitted the previous part suggesting that there was little inflation! Why? Because his own figures have shown rising inflation FIVE months in a row! So much for Will Cain’s “we’re seeing only DEflation” argument!

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• sbenard

  Posted on March 3, 2012 at 8:09am

  To be honest, I am quickly tiring of Will Cain. He has a big head, and an even bigger ego! He dominates every discussion, acting like the appointed moderator! Hey Will, AMY is the moderator, and she does a fantastic job! She doesn’t you to interject your pompously inane ego into every discussion. I may have to use the “mute” button even more in the future!

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