Stagflation

Slate on Stagflation:

"Inflation is being driven by rising energy and food prices. Commodities—wheat, gold, oil, you name it—are getting more expensive. Another way of thinking about it, however, is that the dollar is losing ground against wheat, gold, oil, and other commodities. As the U.S. has pursued fiscal and monetary policies that debase the currency, the dollar has weakened significantly against many of the world's currencies. Consequently, when a commodity that is priced in dollars on a global basis—like oil—goes ballistic, the chumps who have all of their assets in dollars will get hurt disproportionately."

Full artucle here...

http://www.slate.com/id/2185919/

NewsWeek on Stagflation:

"Price increases of individual items can have many immediate causes: poor harvests for food; OPEC for energy; uncompetitive markets for health care; corporate market power for drugs; union market power for construction costs. But persistent inflation—the general rise of most prices—has only one cause: too much money chasing too few goods. It's not a random accident or an act of nature. The Federal Reserve regulates the nation's supply of money and credit. The Fed creates inflation and can control it."

Full article here...

http://www.newsweek.com/id/114803