Barry Ritholtz at the big picture has a post showing that the money supply grew at an astonishing 24.3% according to the St. Louis Fed’s financial data.

Note that this number does not include the Fed’s rate cut or the emergency injection of money by the world’s central banks to stabilize the dollar.

More dollars chasing the same amount of goods equals inflation, in this case, it looks like double digit inflation, and probably the dollar falling of a cliff in currency markets.