The fundamentals for massive inflation are already in place. Enormous budget deficits and heavy government borrowing to meet unprecedented, massive outlays, have accomplished that.
But the present Great Recession will hold the huge inflationary consequences back for a while, perhaps for about as much as three more years, according to many economists. That is, until the economy recovers a bit more.
Despite occasional reassurances from officials, there will be no way to unwind the debt build=up in an acceptable political manner. Therefore, real inflation is inevitable
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