It’s clear that some type of economic depression is coming to the United States and to much of the rest of the world. In many ways, it has already begun.
In order to prepare, any serious investor has to answer the following, simple question:
Where is the United States headed?
• A 1930s-style deflationary depression?
• Or a Weimar-style hyperinflationary crisis?
For the first time ever, two of the most prominent writers on this issue will face one another in a live online debate, to be held on Thursday, February 10, 2011.
NICOLE FOSS, a.k.a. “STONELEIGH” at The Automatic Earth, ranks among the most prominent of the deflationists. She maintains that the ongoing contraction of jobs and overall income in the US will lead us into a sustained deflationary depression. Consequently—and in direct contradiction to the advice of hyperinflationists such as Lira—Foss strongly recommends Americans stay liquid in US Dollars and avoid going into any debt. As jobs and many businesses disappear, Foss foresees a crash in the money supply, leaving most people without cash or credit, and a minority hoarding the little that remains.
- Related FSN interview: "Preparing for and Learning to Survive the Coming Perfect Storm: Part 1", September 9, 2010
GONZALO LIRA has emerged as one of the web’s most high-profile hyperinflationists. Drawing on personal experience from Chile in the early 1970’s, Lira says the same hyperinflationary crisis will soon take place in the United States, due to the massive oversupply of debased U.S. dollars chasing after a finite supply of tangibles. He argues that Americans would be well-advised to structure their investments and their own personal lives in anticipation of a rapid and stunning hyperinflation.
- Related FSN interview: "The Return of Inflation--Reasons Why: Part 2", October 2, 2010
- Related FS editorial: "Ballsy or Crazy? Where Are We On Inflation and Hyperinflation", February 7, 2011
This live online debate will be moderated by Jay Carter of Financial Survival Radio.
Stoneleigh & Lira will be taking audience questions—live. Attendees are advised to have a microphone attached to their computer, in order to ask spoken questions in the live Q&A, though written questions will also be taken.
