The foolishness of the Fed’s money printing scheme to save insolvent financial institutions is starting to show, as the inflation monster appears to be awakening. Oil prices are now near $60 and risky asset prices are soaring. It’s seemingly only a matter of time before prices skyrocket in the broader “real” economy. One wonders how engendering massive inflation will help cure our economic ills particularly at a time when most people are still facing financial difficulties.