Rob Parenteau Rob Parenteau uses macroeconomic insights to inform US equity and global balanced portfolio strategy at his consulting firm, MacroStrategy Edge. He is also the current author and editor of the monthly Richebacher Letter at Agora Financial. Over the prior 24 years, Rob served as the Chief US Economist and Investment Strategist at RCM, an investment management company of Allianz Global Investors. Prior to his career at RCM, Rob received his BA with honors in Political Economy from Williams College in January 1983. In 1989, he completed his Chartered Financial Analyst degree and taught CFA candidates over the following decade for SASF. Rob has published papers applying Hy Minsky’s theory of financial instability as chapters in two books, Contemporary Post Keynesian Analysis and Financialization and the Global Economy. Rob was appointed as a Research Associate at The Levy Economics Institute in 2006, and frequently speaks at their annual Minsky conference.

The Hyperinflation Hyperventalists

Rob Parenteau explains why the the hyperinflationist deficit hawks need to take a deep breath.

After a two day blogging slugfest on fiscal deficits, I find that the question of hyperinflation now demands an answer.  And here it is: fiscal deficit spending may be a necessary condition of hyperinflation, but it is hardly a sufficient condition.

Think this is yet another rant against the “deficit errorists?” Think again. Paul Krugman treated this question in his March 18th New York Times column:

Hyperinflation is actually a quite well understood phenomenon, and its causes aren’t especially controversial among economists. It’s basically about revenue: when governments can’t either…