Evidence appears to be mounting that inflation is on the horizon, in part because of massive deficit spending in the United States and Europe to stave off economic damage inflicted by the coronavirus pandemic and partial economic shutdown. U.S. economists have expressed concern around President Joe Biden’s $1.9 trillion stimulus plan and the $1,400 checks that will be received by most citizens. The ensuing spending surge could set the economy on full boil and drive prices skyward and create a broader economic disruption. That expenditure would come on top of the trillions spent by euro zone governments to underwrite companies and jobs so they can survive the pandemic.
Evidence: Already, key prices are rising, such as the cost of Brent crude, which topped $60 per barrel for the first time in more than a year, and commodity prices generally have been on the rise. As the prices of precious and semi-precious metals have risen, reports surfaced of thieves steali
