Throughout history after every war there has been inflation. In ancient Rome, the Caesars would dilute the gold coins with base metals to inflate the currency. In the US it has happened after every war. Sometimes the effect has been delayed by prudent economics -- such as the EE bonds during WWII. However the inflation eventually came, it just took a little longer.
I think we're in for a huge round of inflation as the US economy picks up again as a result of the immense Bush deficit spending to pay for two unnecessary extremely long wars.
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