Wall St. For Main St., Released on 11/15/23
During this 50+ minute interview Mish talks about how and why hyperinflation normally occurs in emerging markets and with war debt or reparations denominated in a foreign currency. Misk talks about GDP, Gross Domestic Income, Jobs Reports and the CPI. Mist thinks that the permanent “new normal” now is stagflation and that there will only be short periods of deflation followed by Fed reflation policies. Mish is worried about the losses that US banks will incur on commercial real estate rather thn US Treasury bonds. Although Mish thinks that foreign private banks will have more serious losses on US Treasury bonds. To wrap up the interview, Mish talks bout how deflation benefits savers and consumers who are not in debt and how free markets and Capitalism causes deflation. It is governments and central banks that prefer a minimum amount of currency debasement or inflation for many reasons.
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Mike “Mish” Shedlock is a registered investment advisor and representative for Sitka Pacific Capital Management. His articles about the the economy and investing online can be found at Mish Talk.
Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.