Oh yes, I have heard of that but didn't recognize it from your post.
There's plenty of talk about it up here as well because our two economies are so closely intertwined. What I can't wrap my head around is that inflation is nothing more than devaluing the currency, which would seem like a bad thing to do at this point given the fragile state of the economy. In inflationary periods consumers see prices going higher, but in actual fact what is happening is that their money is worth less than it was before. I don't agree with inflation. It just leads to bigger problems, but what do I know?
Bottom line - Americans have to make their money more valuable. How do they do that? Well, remember when Texas Instruments were actually made in Texas? That would be a good start. Gotta get back to the roots of actually producing something, anything, of value. It doesn't even need to be a physical good/commodity, but so long as it is "made" and has value it will add to the economy. Do you think China is having the same problems the rest of the world is having (economy-wise)? No, of course not. They're producing for the entire world! Their economy is growing by leaps and bounds. Nothing against the Chinese, but this isn't doing our economies any good. I buy domestic whenever I can. It's become a deciding factor in many of my purchases.
Sadly the government has no choice but to continue bailing water. Democrat or Republican the immediate plan of action would probably be the same. I'm not sure I agree with it, but the alternative would be so unsavory I'm not sure America would survive the revolt that would ensue.
All I know is I don't have all the answers. People a lot smarter than me are trying to fix the problem and they can't figure it out either.