An opinion article in the Wall St Journal by Arthur Laffer (He of the Laffer curve.)

Mr Laffer suggests we will see rampant inflation and concomitant effects in the US Economy.

The Money Quote " But as bad as the fiscal picture is, panic-driven monetary policies portend to have even more dire consequences. We can expect rapidly rising prices and much, much higher interest rates over the next four or five years, and a concomitant deleterious impact on output and employment not unlike the late 1970s."

The graphic is striking

Read the whole think here: http://online.wsj.com/article/SB124458888993599879.html