"Return of the Money Snatchers?"

By Richard W. Rahn (Cato Institute: Commentary)

When will the next round of inflation hit, and how can we protect ourselves? Many economists and commentators, including yours truly, have warned about the potential of a new round of high inflation due to the great expansion of government spending. But does an increase in government spending necessarily translate into higher inflation? The answer is "no," but it most often does, and this is why.

An increase in government spending must be financed by......