INFLATION IS COMING

Who among older Americans can forget the inflation the country experienced during the late 1970's?  Many enlightened companies, mine among, helped their employees cope with the invidious effects of inflation by giving automatic pay raises several times in one year.  It took the harsh medicine of high interest rates by the Fed under Paul Volcker,  in addition to the lower tax rates and other pro business votes by the Reagan Administration to get the economy back under control. Are we headed for another like period?  This article suggests we are.  Quite obviously the Fed is printing money as fast as it can, to what, stave off deflation, the big bugaboo of the 1930"s?  This appears to be the case.  It is distressing that there is so little discussion of what is going on in the media today.  It seems to to raise  far more interested i n the Trayvon Martin case and racism than the potentially disastrous effects of inflation now on the near horizon.  Seems like the only ones interested in this looming disaster are those who experienced  the 1970's and who now live on more-or-less fixed incomes.  They know full well how devastating inflation can be to their quality of life.  Others, who have the "protection" of working for companies with the ability raise prices and paychecks are insulated from the worst of this malady.  Fortunately there are more fixed incomers now than ever before and they may yet be able to create enough of a stir to at least slow the printing presses down.  Otherwise they're going to be on the as heap of bad times.