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Rick Santelli: Deflation Is The “Biggest Bogeyman In A Central Banker’s Closet”

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Gregory White
Business Insider
July 4, 2010

Rick Santelli of CNBC spoke with King World News (via Zero Hedge) on a variety of different economic topics, but his most prescient comments were about the reality of deflation in the United States.

Santelli called deflation “the most disingenuous argument,” of the moment, saying that deflation is only a natural response to the end of a bubble. That end of a bubble, according to Santelli, causes deleveraging in the economy, as the market heals itself to reveal the reality of what prices should actually be. Santelli says that deflation is an argument economists use to position central banks and governments to spend more money to prop up the system.

Often on CNBC Santelli comes off as being over-political and under-analytical. In this interview, he makes clear his arguments, and while they are anti-government size, anti-government spending, and pro-tax cuts, they are cogent and not the typical for-T.V. bombast we usually get from him. The interview is certainly worth a listen.

Listen to the audio of the interview at King World News >

This article was posted: Sunday, July 4, 2010 at 3:52 am

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