Why are Prices so High?

From Mises.org blog: Behold, the awesome power of the printing press!


It has been said that some pictures are worth a thousand words; not nearly that many words are needed to describe the above chart. The disgustingly rapid pace at which paper money and credit has been fed into our economy since Nixon permanently severed America's ties with gold cannot be overlooked. This chart is proof positive why prices have risen - and will continue to do so in the foreseeable future.

Also on Mises.org today is an outstanding article outlining the connection between commodity prices and inflation. Mr. Frank Shostak clearly defines inflation as the increase money supply, and goes on to dispel the "conventional wisdom" of today's economists who, for one reason or another, are unable to connect the dots to reveal the root cause of today's economic problems.