“Inflation fighting”, Hugo? Venezuela introduces Cuba-like food card. This is like something out of Kim Jong-Il‘s playbook.
Reader Phil. J. wrote ask: “The news people say that we are in a deflation. What proof do you have that inflation is coming?” First, don’t confuse commodity deflation and currency inflation. In the short term, both can happen simultaneously. This chart from the St. Louis Federal Reserve Bank shows that there will be plenty of consumer inflation in the near future. The Federal Reserve more than doubled the money supply in less than two years. Eventually, this rapid expansion is sure to show up in the form of inflation at the consumer level.
India Daily warns: United States faces hyperinflation along with massive recession – the runaway prices of food, energy, softs, and metals accompanied with endless job losses (Gee, why aren’t similar warnings being published by the American mainstream media? )