Art Laffer: Inflation is on the horizon

Arthur Laffer certainly missed the current economic mess -- he famously offered to bet permabear Peter Schiff "a penny" that the real estate bubble would not go bust. Laffer argued that a "nice slowdown" was the worst we could get.

You might think he would be discredited and would crawl back into his cave, but you'd be wrong. Like any good pundit, he's back with more prediction, this time in an op-ed piece in The Wall Street Journal. Now he appears to be joining Mr. Schiff in predicting serious inflation. He writes: