It will happen the question is when? If you read his book in 2002(I haven't) would you have participated in the latest run in stocks?

The arguement is can they print money fast enough? Now it's not even a question of printing, just a press of a computer key and apparently there it is. We had a little hick up last year that allowed the system to establish a pipeline for cash to flow to the banks. So, chances of getting a systemic bank failure are greatly reduced(or so they are telling the peasants). But we do have this derivative thing hanging over our heads. Here's some food for thought. All the Money that the US,Canada,China,EU, etc is pumping into the system, is it all for currency devaluation or is it too gradually increase liquidity to address the derivative problem? Because if we all start printing at the same rate relative values stay the same but liquidity is greatly increased. Now the speed that the liquidity hits the market is another thing. I haven't heard anyone ever directly correlate monetary inflation to wage inflation, may be just the opposite in some circumstances.

Also, some food for thought you can have substantial inflation in a deflationary environment. If you have a 5% rate of deflation you would need to generate an economy with a 5% inflation rate just to break even at zero. The government would be touting no inflation but people on the street would know better.

I also wonder where Precther makes his $$ is it through investing or selling books?