The Three Faces of Inflation

We are heading towards the terminal and final stage of this price revolution that began in the 20th century. In the final stages of price revolutions there are greater imbalances, which create greater instabilities. “Prices surge and decline in swings of increasing amplitude. Markets of many kinds—capital markets, commodity markets, labor markets—become dangerously unstable. Production and productivity decline or stagnate, while prices continue to rise; together these trends create stagflation.
Jim Puplava at Financial Sense Online