Peter Schiff

But also, if I'm hungry, am I going to wait a year to eat because I think the food is going to be 2% cheaper?

If you don't have a dryer, are you going to wait a year?

No.

You buy things, they forget that there is a value to having something today versus having to wait.

Yes.

The only reason that you don't buy something now

because you want to lower prices because you can't afford it.

And so you're hoping that the price will go down and then you'll be able to buy it, which is what the free market does.

So it's nonsense to say that we're not going to buy.

I mean, would it be a disaster if food got cheaper, if healthcare got cheaper, if energy got cheaper, if clothing got cheaper, if everything you needed was less expensive?

Why does the Fed have to prevent that from happening?

Why is that such a horrible thing?

Yeah, people will stop buying.

We'll sit on our hands indefinitely waiting for a better deal.

Like, you know...

And the Federal Reserve says that?

Oh, yeah.

They believe that.

Then the other thing they think is that businesses can't make money if prices aren't rising, which is also not true.

They actually make more money when prices are falling because what's important for a business is not the price that they charge.