It was a battle of the bears, Round Two, between Nouriel Roubini and Peter Schiff.
"I thought I was 'Dr. Doom until I met Peter," NYU economist Roubini said Wednesday. "Compared to him, I'm 'Dr. Boom.' He has been predicting a collapse of the dollar, gold going through the roof and inflation rising sharply. I just see the opposite. I see the U.S. economy—which, in spite of QE1, QE2, QE3—there's going to be an economic recovery."
While the opening salvos were fired during a panel at the SALT Conference in Las Vegas, Nevada, the rumble continued on CNBC's "Fast Money."
Peter Schiff, the head of Euro Pacific Capital and longtime critic of inflationary central bank policy, held his ground.
"The real point of the argument and the panel was over inflation, over whether it was good or bad. Nouriel's point is that he believes that economies need a certain amount of inflation to grow, and that somehow consumers are better off if the prices of the things that they need and want go up every year," he said.