Q&A: Is a Depression coming?

Dear Mr. Newland,  
I have read your latest column which has given me hope, however, I have also read Harry S. Dent’s latest book about The Crash Ahead. His information is based on demographics and spending patterns; and the strategies for inflation vs deflation are opposite. How do you think the slow down that he predicts will impact here in New Zealand? If globally, we are entering the start of a depression, what is your prognosis for New Zealand? Thank you for considering my question.  
Sincerely, Bill  

Dear Bill  
I don’t there is the slightest chance of a depression. The most likely scenario is just muddling ahead going now no where for a few years. Just behind that is hyper-inflation which is big risk- because if economies do not improve governments will print their way out of the problem. I have seen this time and again. Inflation is always the lesser evil as compared to deflation or stagflation.  

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