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Pete Schiff: Why We Should Embrace Deflation As Good

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Deflation Would Be a "Good Thing": Peter Schiff's Plan to Help Struggling Americans

Posted Jul 23, 2010 07:30am EDT by Aaron Task in Investing, Recession
With housing rolling over, unemployment still uncomfortably high and the CPI down three straight months, the specter of deflation hovered over Ben Bernanke's semi-annual testimony to Congress this week.
Walking a thin line, Bernanke took pains both to downplay the deflation threat -- "I don't view deflation as a near-term risk to the United States," he said -- and to assure markets that "the Federal Reserve does have the capacity -- the tools -- should deflation occur, to reverse it."
The idea deflation would be a "good thing" certainly puts Schiff at odds with most mainstream economists. Then again, that's where he's most comfortable.

Pete is clearly in the "inflation does not exist" camp but seems to suggest it would be a benign thing.

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