I really enjoy these types of nitwit commentators getting toasted by Jim - it reminds me of late 80's wrestling, where they'd trot our some no name guy on Saturday afternoon WWF Superstars to get destroyed by the Ultimate Warrior in 15 seconds.
Check out the 5:40 mark for the really good stuff.
Quick hits from Jim:
- This is not deflation. Stocks are going down, and there is forced selling in commodities. He believes this is temporary.
- He's of the view that "the world is going to recover someday, and with all the money that is being created, history has shown this has always lead to inflation."
- The current environment is fundamentally different from 1929. The Great Depression was a result of a lack of bank liquidity. The current crisis is the result of bad bank decisions - and right now, the bad banks are being propped up.
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