Well, I am not talking about Zimbabwe, but compared to the relatively low inflation of recent decades, likely back to the double digits of the Carter era until all the profligate Government spending and endless creation of fiat money is brought under control. It may not get fully in gear until sometime next year, but the early signs are unmistakable. Every time the Fed executes some new "facility" (Fed-speak for a way to push more fiat money out the door), the dollar's reaction is swift and immediate (i.e. down) with commodity prices spiking up. For the time being, consumers are still holding back, essentially forestalling any upward pressure on prices in general, which will likely remain the case until housing prices finally bottom and unemployment peaks, but once that happens and the consumer thinks the worst is over, the lid will blow off prices like an overheated pressure cooker.
