by Doug Casey, International Man:
International Man: Do you think there will be retail inflation in the months ahead?
David Stockman: I think it’s hard to say because there are opposite forces at work.
On the one hand, if you look at something like oil and commodities, generally, we’re in a territory we’ve never been in before. The current demand for oil dropped by 30 million barrels a day, where they used to focus on blips of 400,000 a day, plus or minus.
This last effort to prop up the OPEC cartel is failing very fast. That side of the price index of the market basket is likely to head south very strongly.