Inflation or Deflation: Peter Schiff versus Gary Shilling

This is a very good debate between Garry Shilling, a prominent deflationista, and Peter Schiff, a prominent inflationista, because it shows you the core substance of the arguments on the inflation-deflation debate. I am calling this one for Shilling. His arguments regarding deleveraging and its longer-term deflationary impact are more compelling. Schiff’s arguments about central

Links: 2009-08-15 blogger edition

As I promised, I have more links. This time they all come from posts on top finance blogs over the past day or so.  I do expect to hit some of these topics in the coming days. Five questions for David Wessel | Free exchange | Economist.com Economists – not the best recovery forecasters –

BRICS or CRIBS? – Meeting in Moscow to coordinate policy

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman has a good piece out today highlighting the differing economic policy agendas of the BRIC group (Brazil, Russia, India and China).  In it he suggests CRIBS is a more appropriate moniker for the group as it is China and Russia leading the way for

Links: 2009-04-03

M2M Change = Time to buy banks? – FT Alphaville Recession Hits Social Security Increases “The banks” versus “some banks” – Paul Krugman Blog – NYTimes.com Medvedev Renews Call for Alternatives to Dollar – Real Time Economics – WSJ The Daily Dish | By Andrew Sullivan – Genes, Race, And IQ Buffett Penalized as Citigroup

Wall Street Journal: Right Forecast by Schiff, Wrong Plan?

Wading into the controversy surrounding Peter Schiff’s investment under-performance, the Wall Street Journal has released an article which calls into question the fundamental arguments for Schiff’s investment strategy. Schiff, a fund manager often seen on television, has significantly underperformed the rest of the U.S. stock market, which itself saw a drop of nearly 40% last year. The question is why. Judging from the Journal piece his approach was aggressive and ill-timed. To my mind, this calls into question whether these losses can ever be recouped down the line. I have highlighted in bold the salient points of the article below

Links: 2009-01-28 – blogger edition

Here are some worthwhile contributions from the econblgger world I think you should definitely read

Links: 2009-01-18

Recently, I posted a video of Peter Schiff making the argument for small government and resisting stimulus. As I see much to like in Peter Schiff’s views, I sympathisize with the broad themes of his message. However, I do not feel he is realistic about what is politically feasible or understands the negative consequences of a ‘let them eat cake’ approach to governance.

Nevertheless, I would have to admit I sounded a lot like Schiff a few months ago and that I have ‘evolved’ away from his viewpoint. Reader Stephen rightly asks “Does ‘Depression Economics’ Change the Rules?” So, the questions I ask myself in this evolution are the following

Peter Schiff: “Government is a burden on the economy”

Peter Schiff is that market wizard people were laughing at just a year ago because of his extreme views. Well, things have turned out much as he has indicated they would. So, now he has a captive audience. And what is he saying? Government is a burden that we need less of. The way forward is not government stimulus but less government, less consumption and higher savings.

Well Peter, I have news for you: that game plan of yours is a recipe for deflation, depression, civil unrest and financial Armageddon. You see, Schiff is an ideologue from the small government, free markets crowd. While I agree with his broader themes about less consumption and more savings, I do not see eye-to-eye with his ideology. What America needs now is a practical solution to a real problem, not ideology from the small government crowd

Peter Schiff: they laughed at him, now he’s laughing back

I have been tied up with other activities all day today. But, I just had to send this post on Peter Schiff. My brother-in-law sent me this video a second ago of Schiff predicting doom and gloom on YouTube. And it’s actually kind of funny to look back and see what he was saying in 2006 and 2007 and how he was pilloried. His calls were uncannily right on the money

News Round-Up: 25 Jul 2008

Housing: US, UK and SpainBright spots in the housing nightmare – MSNU.S. Mortgage Rates Soar on Inflation Fears – Housing WireU.S. Existing Home Sales Continue Freefall – Housing WireOversupply killing U.S. lender giants and house prices – Irish IndependentUK Major mortgage lenders cut interest rates TelegraphWhat to do if you’re trapped in Spanish property gloom

Barron’s: an interview with Peter Schiff

Peter Schiff, the investor and author, is a controversial figure. He tells of an America that has lost its way through shedding manufacturing and its habit of saving money. His conclusion is that the U.S. is not a place where he wants his clients to be invested and he has many places to allocate their