Below is the last part of Tavakoli's interview with Max Keiser.
And a note from Janet herself:
In Chapter 12 of Dear Mr. Buffett I predicted we would be suffering from stagflation by now. I believe this will eventually occur, but I was wrong about how quickly we would be at risk for inflation. We are still feeling the effects of a collapsing asset bubble resulting in demand deflation (except for food, energy and isolated pockets.) Instead of allowing necessary deflation (restructuring of AIG, investment banks and troubled banks), the Fed is trying to paper over the problem. We criticized Japan when it did this (and lost two decades), and now we are doing the same thing.
In the video, I mention I went to cash in 2007 (it sounds like 2000, so perhaps I misspoke). I also mention that "believing economists…" and the audio distortion makes it sound like "bleeding" economists.
In the earlier (posted on maxkeiser.com on October 2) first half of the interview, I misspoke. I meant to say that JPMorgan merged with WaMu (not Wachovia) and Bear Stearns. Shortly thereafter, I mentioned the Wells/Wachovia merger (Wachovia had already done the disastrous Golden West merger).
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