The National Inflation Association today released the following statement to its http://inflation.us members:
“While most mainstream economists such as Nouriel Roubini are warning of deflationary threats to the U.S. economy, it is our belief that massive price inflation has already begun. The Federal Reserve’s policy of massive monetary inflation in 2009 has caused the Dow Jones to bounce over 50% from its low, oil to rise 100% from its low, and gold to surge to a new all time nominal high. One NIA co-founder just saw his health insurance premium rise 16% over a year ago; and the average tuition for a four-year public college increased this year by 6.5%.
Roubini is calling for another meltdown of 25% in the market with similar things afoot for the commodity sector. We’ve assembled some recent interviews of Nouriel at nourielroubini.financialanalystwatch.com for those who are interested.