CJR...there's a lot of noise out there by reputable voices on both the deflation and inflation side of the argument. I have to agree with you that we head towards inflation by years end as the economy (hopefully starts to respond to all of the stimulus). They say that inflation is purely a monetary event related to too many dollars in circulation. The Bernanke says he can "sterilize" all of this liquidity thru currency swaps, etc. We'll see. It's definately a confidence game.