CJJ

Four Reasons Peter Schiff Is Wrong

Respectfully you have no proof of your PERMANENT STRUCTURAL CHANGE. You have no proof of your runaway inflation.

Just like the authors points. You are both guessing as to what will occur.
You're certainties are no better than his.

That being said, in the short term I tend to agree with you that cash is where to be but only because people are quite irrational and seem intent on fighting tooth and nail to do anything and everything to not spend.

In the longer term I tend to agree more with the author. Americans are not going to become poor all of a sudden and take it sitting down. Its much easier to keep poor people poor. Its much harder to expect people who were not poor to accept being poor.

It just as probable that you'll both be wrong and something totally unexpected occurs.