The second part of Chris’ interview with John Williams, noted guru on government statics, is reserved below for you, our enrolled members.
If you’ve not yet listened to Part 1, click here to do so.
Part 2 of the interview delves deeply into the specific risks our economy faces and why John concludes high inflation is the sad but certain outcome. And why he has substantially moved up his date for the onset of hyperinflation given the Fed’s recent actions.
Among other details, John provides his outlook on the expected signs hyperinflation is manifesting itself and what individuals can do to protect themselves against it.
To listen to the Part 2 podcast, simply click the play icon below:
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Click here to read the transcript for this podcast.
Chris Martenson: All right, well I want to shift gears on that then, because I am very interested and all of our listeners are very interested in where this goes. So I want to talk maybe 2011, 2012, and you have been fairly outspoken in your predictions that there is a hyperinflationary end to the U.S. economy. Other people are calling for a deflationary end, but tell us what you see in and the main drivers for that prediction and, sort of, how you see that unfolding.
John Williams: Well, first let me define the inflation that I am talking about, because a lot of people looking at deflation are thinking of an asset deflation, in stock prices and so on. I can see that happening. That is not at all inconsistent with what I am looking at. I am discussing it in terms of where the cost of goods and services for consumers is headed. I have to go back a little bit. Before the current financial crisis broke in 2007, go back another year or two before that. It was evident then that the U.S. was on an unsustainable fiscal course. In fact, the fiscal course, it was not only unsustainable, but it actually reached the point of being uncontainable, ultimately doomed to some inability of the government to pay its obligations.
by cmartenson 
