Quote from dhpar:
i second that. note that if he is wrong on inflation then he is also wrong on US dollar and therefore wrong on commodities. he then must be wrong on equilibrium P/Es and therefore wrong on S&P trajectory.
so apart of incoming housing problems (which is today known even to amazonian sloths) and consumer conservatism his analysis may not be that useful...
I said I 'think' because I cant be sure of that. the quote was made by some guy in a forum but Japan showed that a fiat government can fail as well perhaps shilling is betting on that outcome