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.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.
DATE & TIME: Thursday, Febrary 10, 2010 beginning at 9:00 PM EST
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.
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.
This live online debate will be moderated by Jay Carter